Bitcoin is facing a potential threat as it approaches a death cross, which could trigger a crash if the price does not hold at $62,000. This news has been reported by NewsBTC.
A death cross occurs when the short-term moving average of an asset crosses below its long-term moving average. In the case of Bitcoin, this could indicate a shift in momentum towards the downside.
If the price of Bitcoin does not manage to stay above $62,000, it could trigger a sell-off and lead to a significant drop in value. Traders and investors are closely monitoring the situation to see how it will unfold.
It is important for those involved in the cryptocurrency market to stay informed and make well-informed decisions based on the current market conditions. The potential for a crash is a reminder of the volatility of the cryptocurrency market and the importance of being cautious when trading or investing in digital assets.