The Dead Cross is an underlying pattern in the cryptocurrency market. It occurs when the short-term trend falls below the long-term average, and is a reliable indicator of possible market crashes. This pattern has been observed many times, including in 1938, 1974, and 2008. It occurs when the price of a digital currency moves sharply downward relative to its long-term average.
In recent years, this pattern has appeared in the Bitcoin market, which worried many market participants. This trend resulted in many traders leaving the market. In addition, China began cracking down on cryptocurrency mining, and many banks and financial institutions were forced to stop offering such services. Elon Musk then tweeted about the situation, which also contributed to a drop in the price of Bitcoin.