Bitcoin Shows Bearish Signals as On-Chain Metrics Indicate Potential Death Cross

COINOTAG News reported on April 3rd that Glassnode has identified a concerning on-chain indicator for Bitcoin. The analysis reveals that Bitcoin’s 30-day transaction volume-weighted price has fallen beneath the 180-day counterpart, suggesting a notable decline in market momentum. This technical formation, reminiscent of a death cross, has historically signaled potential bearish trends within a three to six-month outlook. Investors are advised to monitor these developments closely, as the implications of such on-chain signals could influence trading strategies and market sentiment. Engaging with this data allows market participants to make informed decisions amidst evolving dynamics in the cryptocurrency market.