Glassnode: Bitcoin shows a death cross signal, usually indicating a bear market trend for the next 3 to 6 months
Glassnode posted on social media that a signal similar to the death cross has appeared on the Bitcoin chain. The 30-day transaction volume weighted price of Bitcoin has fallen below the 180-day transaction volume weighted price, showing weakened momentum. Historically, this pattern usually predicts a bearish trend for the next three to six months.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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