Bitcoin Nears Bear Cross at $62,400 as 3 Prior Signals Marked Market Bottoms
Updated
Updated · CoinDesk · Jun 23
Bitcoin Nears Bear Cross at $62,400 as 3 Prior Signals Marked Market Bottoms
3 articles · Updated · CoinDesk · Jun 23
Summary
$62,400 bitcoin is approaching a rare bear cross, with its 50-week average at $89,771 set to slip below the 100-week line at $88,397 as soon as next week.
Three previous bear crosses in bitcoin's history each coincided with a market bottom and preceded roughly three-year rallies, making the signal a contrarian bullish marker rather than a fresh warning sign.
The setup largely reflects bitcoin's earlier 50% slide from $126,000 in October to nearly $60,000, underscoring that these long-term moving averages are lagging indicators with limited predictive power.
Bond yields, ETF flows and actions by Strategy still could override the chart signal, meaning macro conditions remain critical to whether any bottom holds.