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Bitcoin has plummeted, and the death cross signals further pain
Bitcoin's price fell to around $83,405, down over 6%, while traditional safe-haven assets like gold rose sharply, and Bitcoin faced a "death cross" technical signal. The 50-day EMA moving below above the 200-day EMA indicates a bearish turn in the market, with key resistance at $88,000. Analysts have warned that if it falls below the $80,600 support level, the Bitcoin price could drop to the $74,000 area, reflecting the cryptocurrency's struggles amid macroeconomic uncertainties.