Bitcoin's Technical Indicator Signals Potential Market Shift
Bitcoin's price structure experienced a critical juncture as the 50-day moving average dipped below the 200-day moving average, termed a death cross, sparking analyst discussions on November 21, 2025. The event signals possible continued downward pressure on Bitcoin, with significant scrutiny from analysts, impacting investor sentiment and potentially causing broader market ripples.
Bitcoin's death cross confirmation has drawn significant attention from analysts as the 50-day moving average crossed below the 200-day moving average. Analysts like Benjamin Cowen emphasize that such events often precede local bottoms instead of long-term declines. According to Cowen,
Historically, in past cases, local bottoms have sometimes occurred instead of declines.
Leading the analytical discourse are Benjamin Cowen of IntoTheCryptoverse and on-chain analyst Ali Martinez. Cowen and Martinez highlighted the potential impact on Bitcoin's price trajectory, suggesting a possible decline towards $83,500, underscoring the seriousness of the situation.
Market Concerns as Bitcoin Falls Below $94,000
Bitcoin's fall below $94,000 for the first time since May sparked broader market concerns. Analysts note potential repercussions on sentiment for altcoins like ETH and major DeFi tokens, emphasizing that the death cross could drive further volatility.
Historically, similar death crosses have either coincided with or followed local price bottoms, implying potential recoveries post-event. Analysts point to previous cycles where death crosses marked a period of market stabilization rather than prolonged bear phases.
Past Death Cross Events Suggest Stabilization
Events like the September 2023 death cross, where Bitcoin subsequently bottomed around $25,000, set a precedent for potential outcomes. These events suggest that death crosses may indicate capitulation rather than the start of significant downtrends.
Experts like Benjamin Cowen highlight that while the macro cycle could lead to recovery, prevailing bearish macro pressures remain a concern. Analyzing historical trends, such events suggest market reset periods rather than fresh downturns.