
Jakarta, Pintu News – After the last few days of struggling to recover from a sharp drop below $100,000, the price of Bitcoin is now in a very weak phase, which has not happened in recent months. With the price moving in the mid-$90,000s following the drop, the latest technical analysis suggests that there could be a significant price increase in the near future.
Analysis conducted by Tony “The Bull” Severino highlighted a death cross formation on the daily chart, where the 50-day moving average began to decline closer to the 200-day moving average. Although this pattern is generally considered a bearish signal, the placement of the moving averages and the slope of the short-term lines suggest a different possibility on the Bitcoin chart.
This decline has caused concern among traders, but the unique position of the moving average may indicate the potential for an unexpected price recovery. This suggests that the market may have been overly pessimistic, which is often followed by sharp price spikes.
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In order to reach the $110,000 price in the coming days, the Bitcoin market needs to repeat a pattern that has been seen several times in previous cycles. This involves a strong relief rally just before or shortly after a death cross is formed.
This rally occurred because market sentiment became extremely pessimistic at the same time that short positions started piling up, making the price vulnerable to a sharp upside reaction. However, for this scenario to occur, Bitcoin needs to convincingly break the $90,000 level again and show that momentum is shifting from the recent sell-off.

On the other hand, several other analysts have pointed out bullish indicators for Bitcoin, despite the current bearish price action. One of these is the Bitcoin SSR RSI, which shows an increase in the stablecoin’s buying power relative to Bitcoin’s market capitalization, as highlighted by CryptoQuant community analyst Maartunn.
However, there are also bearish indicators emerging, such as SuperTrend, which suggests a possible 67% drop in Bitcoin price. At the time of writing, Bitcoin is trading at $89,760, down 5.8% in the last 24 hours.
While there are various indicators pointing to a potential downturn, recent technical analysis and current market dynamics could surprise us with a significant increase in the price of Bitcoin. Investors and traders are advised to keep a close eye on market developments and conduct in-depth analysis before making investment decisions.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.
A1: A death cross is a chart pattern that occurs when the 50-day moving average falls and crosses the 200-day moving average, usually considered a bearish signal.
A2: A relief rally occurs when market sentiment is extremely pessimistic and short positions pile up, often leading to sharp price spikes as the market reacts to excessive selling pressure.
A3: Bitcoin SSR RSI is an indicator that shows the buying power of the stablecoin relative to Bitcoin’s market capitalization, which could be a bullish signal if this value increases.
A4: The SuperTrend indicator showing a potential 67% decline could be giving a bearish signal, suggesting that Bitcoin price may experience further declines.
A5: As the cryptocurrency market is highly volatile and affected by various external and internal factors, in-depth analysis helps investors understand the risks and potential returns before investing.