{"id":75266,"date":"2025-06-22T15:00:40","date_gmt":"2025-06-22T15:00:40","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=75266"},"modified":"2025-06-22T15:00:40","modified_gmt":"2025-06-22T15:00:40","slug":"bitcoin-closes-daily-price-below-50ma-final-bearish-signal","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=75266","title":{"rendered":"Bitcoin Closes Daily Price Below 50MA \u2013 Final Bearish Signal?"},"content":{"rendered":"

Bitcoin (BTC) continues to experience an extensive price correction losing over 7% of its market value in the last month. The flagship cryptocurrency has struggled to regain its bullish form after setting a new all-time high leading to speculations of a potential market top. Interestingly, popular market analyst and the host of The Wolf of All Streets Podcast, Scott Melker has recently shared a market development that supports such bearish notions.\u00a0<\/a>\n<\/p>\n

Bitcoin Set For 26% Crash?<\/h2>\n

In an X post<\/a> on June 21, Scott Melker shares a cautionary insight on the Bitcoin market hinting at a bearish long-term outlook. The season analyst reports that data from TradingView shows that Bitcoin\u2019s has now closed below the 50-day moving average (50 MA) on the daily trading chart, a development that last occurred two months ago when Bitcoin traded around $84,000.<\/p>\n

The 50MA is a commonly used technical indicator that represents the average closing price of an asset over the past 50 days. As a lagging indicator, it helps traders identify the prevailing market trend. When the price remains above the 50 MA, it typically signals a bullish trend, while a move below the 50 MA may indicate bearish momentum or a potential trend reversal.\n<\/p>\n

Interestingly, Melker notes that Bitcoin last lost the 50 MA as a support zone in early February trading around $100,000. However, the loss of this price floor triggered an immense selling pressure forcing Bitcoin into prolonged market correction to reach market low of $74,000 in April. <\/p>\n

Amidst the current market uncertainty, the recent daily price close below 50 MA strengthens bearish sentiments suggesting Bitcoin is due for another potential 26% crash. In that case, investors could expect a downside target of around $76,200. To invalidate such bearish projections, Bitcoin must continue to hold above the $100,000 resistance level<\/a>, fueling the chances to retest the current all-time high, and perhaps re-enter price discovery mode.\n<\/p>\n

Bitcoin Price Overview\u00a0<\/h2>\n

At press time, Bitcoin is trading at $102,889 after a 1.43% decline in the last day. In tandem, the asset\u2019s daily trading volume has crashed by 29.30% and is presently valued at $35.15 billion. With a market cap of $2.02 trillion, the \u201cdigital gold\u201d continues to rank as the largest cryptocurrency and fifth largest asset in the world. <\/p>\n

However, according to prominent market analyst Ali Martinez, Bitcoin may actually be slipping into bearish territory<\/a> as similarly predicted by Scott Melker. Based on insights from the MVRV pricing bands, if the market lose the current support at $102,000, it opens the door to a potential decline toward $82,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) continues to experience an extensive price correction losing over 7% of its market value in the last month. The flagship cryptocurrency has struggled to regain its bullish form after setting a new all-time high leading to speculations of a potential market top. Interestingly, popular market analyst and the host of The Wolf of […]<\/p>\n","protected":false},"author":0,"featured_media":75267,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-75266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/75266"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=75266"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/75266\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/75267"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=75266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=75266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=75266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}