Bitcoin falls toward $80K and prints ‘death cross’ as US stocks mimic 2020 COVID-19 crash

Quick Summary:

Market commentator Byzantine General flagged short positions increasing across major crypto pairs, concluding that tariffs would ensure that lackluster conditions would continue.“I could see a stop hunt below the local lows before a pump to squeeze shorts, then probably more chop that slopes downward,” he told X followers. “I do think that with the tariff responses that are most likely coming upside will be limited.”Bitcoin and Ethereum market data.

The 30-day volume-weighted price of $BTC has crossed below the 180-day, signaling weakening momentum,” an X post announced. “Historically, this pattern preceded 3–6 months of bearish trends.”Bitcoin realized price “death cross” impact data.

US stocks then followed, with the S&P 500 down over 4% on the day at the time of writing.“Today's -3.7% drop puts the S&P 500 on track for its largest daily decline since the 2020 pandemic lockdowns,” trading resource The Kobeissi Letter wrote in part of a reaction on X. “Since the after hours high at 4:25 PM ET yesterday, the S&P 500 has erased nearly $3 TRILLION in market cap.”S&P 500 1-hour chart.

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Article Details

Author / Journalist: Cointelegraph by William Suberg

Category: Crypto

Markets: United StatesOman

Topics: Price Short Previous Average Week Market Bitcoin Data Revised Markets Tariff

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-03 @ 17:13:22 (1 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 596 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 27568141

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