Bitcoin Plunges Below $76K After Death Cross as Market Panic Deepens

• Bitcoin’s death cross confirms a weakening trend below long-term moving averages.
• Crypto fear index plunges to 17 as traders exit risky positions.

Bitcoin has dropped into bearish territory after signaling a classic technical reversal. The asset’s 50-day simple moving average has now fallen below its 200-day counterpart, a move often described by analysts as a “death cross.” This event tends to signal weakness in long-term momentum. At the same time, broader markets are facing heightened selling pressure.

Death Cross Appears As Sellers Tighten Grip

According to Crypto analyst Ali Martinez, the crossover between the 50-day and 200-day SMAs has officially occurred, putting Bitcoin on watch for further downside. Past trends show that similar crossovers have led to deeper market pullbacks.

Bitcoin’s current price action comes amid a noticeable loss of upward strength. The asset has fallen below recent support zones, with technical models suggesting further pressure could drive it toward the $60,000–$58,000 range.

While some observers remain wary of what lies ahead, others point out that not all death crosses result in sharp corrections. Arthur Hayes, BitMEX’s co-founder, suggested that recent macro shocks—like rising tariffs—could eventually boost Bitcoin if inflationary risks rise.

Stock Futures Turn Red As Global Sentiment Sours

Risk appetite across traditional markets has also faded. U.S. stock futures began the week with steep losses, led by Dow Jones futures, which fell more than 8%. According to Google Finance, the S&P 500 index saw a decline of nearly 4%, while the Nasdaq also slid.

In a post on X, The Kobeissi Letter remarked that futures linked to the S&P 500 have now entered bear market territory. The platform added that U.S. equities have lost an average of $400 billion daily over the last 32 sessions. 

BTC Drops Below $76K As Fear Dominates Sentiment

At the time of writing, Bitcoin’s price is $75,386.27, down 9.03% in just 24 hours. The slide began late April 6, breaking a multi-day consolidation pattern previously held above the $83,000 mark. CoinMarketCap data shows daily volume soared by over 351%, climbing to $61.65 billion as volatility surged.

Source: Coinmarketcap

The sharp sell-off has also triggered a collapse in sentiment across the crypto space. The Crypto Fear and Greed Index, which reflects emotional bias in the market, has sunk to 17—placing it firmly in the “Extreme Fear” zone. This reading demonstrates a dramatic shift from “Greed,” seen earlier in the week when BTC traded at higher levels.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.