Analyzing Bitcoin’s ‘death cross’ – Price stagnation ahead? – BitRss

• Bitcoin could be set for a long period of stagnation, as the death cross occurs on 30DMA & 365 DMA.
• BTC ($100,339.09) has moderately recovered on daily charts by 2.58%.

Over the past 24 hours, Bitcoin [BTC] has experienced a strong upswing, reclaiming the $100k level.

However, it has made a pullback over the last few hours. In fact, as of this writing, Bitcoin was trading at $99417 after rising by 2.58% on daily charts.

This slight pullback reflects the overall BTC struggle with keeping up with an upward momentum. As such, this stagnation has left analysts predicting a bearish outlook for the Crypto.

Inasmuch, CryptoQuant analyst Yansei Dent has suggested a potential mid to long-term price stagnation, citing the emergence of a dead cross.

Death Cross emerges on Bitcoin’s active addresses

In his analysis, Dent observed that Bitcoin has entered a stagnation phase, with active addresses signaling a weakening momentum.