- Bitcoin experiences a 9% decline due to MACD signal.
- Institutional investors show caution amid market shifts.
- Major altcoins face significant declines influenced by bearish signals.
Bitcoin’s price dropped over 9% on the 3-week chart due to a bearish MACD crossover, signaling weakening momentum and dipping BTC toward the $103,500 support region.
The downturn is significant due to bearish technical indicators and macro headwinds, prompting sharp liquidations and ETF outflows, affecting related cryptocurrencies like Ethereum and Solana.
The MACD flashed a bearish crossover on the 3-week chart, sending Bitcoin to a 9% decline. The price hovered near the $103,500 support region. Institutional and market data indicate a broader retreat across cryptocurrencies.
Market leaders, including Jerome Powell and institutional investors, influence the downturn. Recent comments on monetary policy have led to a risk-off environment, impacting global liquidity and crypto markets, as institutional support weakens.
A rapid liquidation followed Bitcoin’s drop, with $1.16 billion in positions affected. The slide affected leveraged traders heavily, as BTC dipped toward key support levels and increased market volatility.
The financial impact extends to EOS and derivatives markets. ETF outflows and institutional caution, as seen in $1.15 billion withdrawals, signal growing uncertainty. Altcoins such as ETH also face notable losses.
These technical and macroeconomic factors indicate a potential for continued volatility. The crypto market faces pressure as global monetary policies align, with Bitcoin dominance remaining high compared to altcoins.
Historically, similar bearish trends paired with macroeconomic influences have led to sharp declines. Analysis shows how bearish signals like the MACD can serve as precursors to broader crypto market adjustments. Expect continued market fluctuations.
“The downturn is primarily a function of bearish technical signals (MACD cross, RSI drop), macro headwinds (Fed policy), and institutional retreat (ETF withdrawals, leveraged liquidations).”