According to Odaily, YouHodler risk manager Sergei Gorev has indicated that a 'death cross' has formed between the 50-day and 200-day moving averages, suggesting that the cryptocurrency market may face further declines despite recent short-term rebounds. This technical pattern is often seen as a bearish signal, indicating potential continued downward momentum in the market.
Additionally, BRN analyst Valentin Fournier noted that the decline in Bitcoin's open interest has outpaced the drop in token prices. This trend suggests that investor confidence and interest have waned due to persistent high volatility. Fournier also pointed out that trading volumes were lower than most weekends, indicating that the minor sell-off did not receive strong bearish support.