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A Threat to Crypto’s Decentralized Future?

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The Trump family has made headlines lately over potential ventures with Binance and the BNB Chain. Rumors started circulating that the Trump Organization is considering buying a stake in Binance’s US arm, while Trump recently launched his USD1 stablecoin on BNB Chain. This nature of the President’s involvement has raised concerns over decentralization. 

BeInCrypto spoke with representatives from Galxe, Komodo Platform, Kronos Research, Yellow Network, and Solv Protocol to gather further insights on what Trump’s involvement could mean for the centralized exchange and the decentralized blockchain. 

Initial Reactions to Trump’s Binance Ventures

A series of events in the last month seem to have brought US President Donald Trump and Binance founder Changpeng “CZ” Zhao closer together. 

Just two weeks ago, reports circulated that the Trump family may be negotiating to acquire a stake in the US arm of the world’s largest crypto exchange. Then, on Tuesday, World Liberty Financial officially launched its very own stablecoin, known as USD1.

Though Binance’s actual involvement in the launch remains unclear, USD1 is native to the BNB Chain. Though BNB is decentralized, community members raised concerns that a stake in Binance could indirectly influence the blockchain’s greater ecosystem. 

As a result, a vital question has erupted: Are these latest ventures good for market adoption and crypto’s reputation, or do they go against crypto’s decentralized and community-driven ethos?

Industry experts proved to be divided in their responses. 

Does Trump Involvement Signal Market Growth?

Trump has completely changed the political landscape in the United States, creating a more favorable environment for cryptocurrency adoption. Given his endeavors in the industry, Trump’s approach has been particularly novel. 

Announcements like the creation of World Liberty Financial and the launch of his meme coin were initially celebrated by the community for the increased visibility they gave to the crypto industry. 

Now, with rumors of a potential stake acquisition in Binance and the launch of USD1 on the BNB Chain, some expect similar results. They argue that The Trump family’s involvement could bring significant traffic to Binance and, consequently, to the BNB Chain.

“A Trump stake in Binance could actually be bullish for BNB Chain, as it may drive‬‭ greater attention, adoption, or even institutional involvement. There have been multiple moves related to Trump and the crypto space. Personally, I see them‬‭ all as contributing to the industry’s development—at least for now. Whether driven by political motives or‬ not, these moves are undeniably giving crypto more visibility and mainstream recognition,‬” said Ryan Chow, CEO and Co-founder of Solv Protocol.

Alexis Sirkia, Chairman of Yellow Network, delivered a similar verdict.

“‬‭A‬‭ Trump‬‭ stake‬‭ would‬‭ be‬‭ bullish,‬‭ not‬‭ bearish.‬‭ It‬‭ would‬‭ draw‬‭ attention,‬‭ capital,‬‭ and‬‭ momentum. The community would more strongly rally behind it than back away,” Sirkia told BeInCrypto.

However, others received the news with much more skepticism.

Concerns Over Centralized Power

When rumors surfaced that the Trump family had held talks to buy a stake in Binance, some criticized the move over potential conflicts of interest. Reports also suggested that these negotiations resembled a plot by CZ to get Trump to pardon him following his guilty plea for money laundering charges in 2023. 

They also cautioned that a stake could give Trump centralized power to a broader industry working to build a decentralized financial system. 

“‬‭Blockchain‬‭ was‬‭ created‬‭ as‬‭ an‬‭ answer‬‭ to‬‭ the‬‭ shortcomings‬‭ of‬‭ the‬‭ traditional‬‭ financial‬‭ system,‬ ‭with‬‭ the‬‭ idea‬‭ that‬‭ no‬‭ one‬‭ entity‬‭ should‬‭ have‬‭ full‬‭ control‬‭ over‬‭ it,‬‭ let‬‭ alone‬‭ an‬‭ individual.‬‭ The‬ idea‬‭ of‬‭ an‬‭ influential‬‭ political‬‭ figure‬‭ like‬‭ Trump‬‭ having‬‭ an‬‭ influence‬‭ over‬‭ one‬‭ of‬‭ crypto’s‬ ‭stalwarts challenges the whole ethos of Web3,” Charles‬‭ Wayn, Co-founder of Galxe, told BeInCrypto.

A move like this, Wayn added, could have significant long-term implications on Binance and BNB Chain.

“If‬‭ Trump‬‭ does‬‭ take‬‭ a‬‭ stake‬‭ in‬‭ Binance.US,‬‭ this‬‭ would‬‭ certainly‬‭ polarize‬‭ the‬‭ community‬‭ and‬‭ lead‬‭ to‬‭ the‬‭ erosion‬‭ of‬‭ trust,‬‭ especially‬‭ from‬‭ the‬‭ more‬‭ ideological‬‭ users.‬‭ They‬‭ would‬‭ likely‬‭ start‬‭ questioning‬‭ the‬‭ integrity‬‭ of‬‭ Binance‬‭ and‬‭ how‬‭ aligned‬‭ –or‬‭ not‬–‬‭ it‬‭ is‬‭ with‬‭ web3‬‭ values.‬‭ This‬‭ will‬‭ inevitably‬‭ have‬‭ an‬‭ impact‬‭ on‬‭ their‬‭ perception‬‭ of‬‭ BNB‬‭ Chain‬‭ and‬‭ could‬‭ potentially‬‭ push developers and users to explore alternatives,” he said. 

However, the way in which Trump could potentially exert power over these entities looks different in each case.

Binance vs BNB Chain: What’s The Difference?

While Binance is a centralized exchange, BNB Chain is a decentralized blockchain ecosystem. Though Binance initially played a central role in creating the BNB Chain, the ecosystem rebranded itself in 2022, evolving toward a more decentralized and community-driven effort. 

Considering their separate natures, Trump’s potential position holds different meanings for Binance and BNB Chain.

“It’s important to recognize that Binance is, by nature, a centralized entity. If Trump were to acquire a‬‭ stake in Binance, the key difference, in my view, would be that Binance could shift from being purely‬‭ profit-driven to being influenced -at least in part- by political factors,” Chow explained. 

Meanwhile, BNB is a blockchain. Manipulating the technology itself is practically impossible.

“BNB Chain’s decentralization is determined by its validators, not endorsements or political affiliations. A Trump stake wouldn’t inherently compromise its structure,” explained Kronos Research analyst Dominick John.

Instead, the BNB Chain could be influenced by other factors, like governance decisions.

The Impact of Politics on Governance

Despite the technical distinction between Binance and BNB Chain, the potential for political influence raises questions about the platform’s independence.

“‭Governance decisions might be seen as influenced by political interests, eroding confidence in the platform’s neutrality. Additionally, increased regulatory scrutiny could lead to compliance measures that restrict certain activities, weakening the chain’s appeal to privacy-conscious users. With a majority power potentially coming from the political realm, the true decentralization of BNB Chain would be questioned, as the community might fear that decisions are driven by centralized, external forces rather than the collective will of the network,” John added.

At this point, the lines between Binance and BNB Chain become blurred. Despite their technically separate entities, BNB is, after all, a product born out of Binance. 

“‬The‬‭ question‬‭ is‬‭ more,‬‭ how‬‭ decentralized‬‭ is‬‭ BNB‬‭ Chain‬‭ right‬‭ now?‬‭ Binance‬‭ has‬‭ been‬‭ criticized‬‭ for‬‭ having‬‭ a‬‭ great‬‭ deal‬‭ of‬‭ influence‬‭ over‬‭ the‬‭ choice‬‭ of‬‭ validators‬‭ on‬‭ BNB‬‭ Chain,‬‭ and‬‭ the‬‭ blockchain’s‬‭ decentralization‬‭ is‬‭ often‬‭ brought‬‭ into‬‭ question‬‭,” Wayn said.

Though direct control of the decentralized BNB Chain is unlikely, a stake in Binance could indirectly influence the BNB Chain ecosystem.

How High Are the Stakes?

The existence and size of a potential Trump family Binance stake remains uncertain. From what Sirkia has heard, Trump is looking at a 5% stake or lower. 

If that turns out to be true, Sirkia doesn’t think Trump’s participation is something to worry about so long as the President prioritizes transparency. 

“‬We‬‭ are‬‭ talking‬‭ about‬‭ a‬‭ minority‬‭ stake‬‭ in‬‭ Binance‬‭ US.‬‭ It‬‭ is‬‭ a‬‭ small‬‭,‬‭ distinct‬‭ offshoot‬‭ of‬‭ Binance‬‭ that‬‭ has‬‭ no‬‭ vote‬‭ on‬‭ BNB‬‭ Chain.‬‭ Everybody‬‭ should‬‭ be‬‭ allowed‬‭ to‬‭ invest.‬‭ But‬‭ if‬‭ you’re‬‭ a‬‭ politico‬‭,‬‭ then‬‭ a‬‭ Blind‬‭ Trust‬‭ or‬‭ public‬‭ disclosure‬‭ is‬‭ the‬‭ answer‬‭.‬‭ Transparency‬‭ is‬‭ key‬‭,” Sirkia told BeInCrypto. 

Chow agreed.

“‬I see this similarly to a political figure holding stakes in any enterprise. This is not uncommon, and with‬‭ proper disclosure –especially given the level of scrutiny surrounding Trump– I personally don’t find it‬‭ inherently problematic. In an extreme scenario where a blockchain is explicitly branded as a ‘Trump‬‭ Chain’ or an ‘American Chain,’ does it really matter? I don’t think so. The market will decide its‬‭ relevance,” he said.

Wayn, on the other hand, argues that the size of the stake is irrelevant.

“‬Even‬‭ if‬‭ this‬‭ stake‬‭ is‬‭ small,‬‭ politicians‬‭ have‬‭ the‬‭ ability‬‭ to‬‭ wield‬‭ outsized‬‭ control,‬‭ and‬‭ this‬‭ would‬‭ be‬‭ unlikely‬‭ to‬‭ go‬‭ down‬‭ well‬‭ with‬‭ the‬‭ BNB‬‭ community.‬‭ Even‬‭ though‬‭ Binance‬‭ is‬‭ a‬‭ centralized‬‭ crypto‬‭ entity,‬‭ outright‬‭ political‬‭ involvement‬‭ would‬‭ be‬‭ a‬‭ step‬‭ too‬‭ far‬‭ and‬‭ the‬‭ community‬‭ would‬‭ almost certainly push back,” Wayn said, adding that “while‬‭ Trump’s‬‭ influence‬‭ may‬‭ not‬‭ make‬‭ BNB‬‭ Chain‬‭ more‬‭ centralized,‬‭ he‬‭ could‬‭ certainly‬‭ wield‬‭ control‬‭ over‬‭ key‬‭ decisions.‬‭ More‬‭ importantly,‬‭ the‬‭ perception‬‭ will‬‭ be‬‭ that‬‭ BNB‬‭ is‬‭ falling‬‭ under‬‭ the‬‭ US‬‭ government’s influence, and perceptions are often what drives user behavior.”

Meanwhile, other considerations also arise. 

Regulatory Scrutiny Likely To Increase

When Trump launched his meme coin, the move drew significant scrutiny from regulators, especially as speculation over insider trading started to surface. The same happened when the Trump Organization disclosed that it had a 75% stake in World Liberty Financial’s net revenue.

Trump’s stablecoin announcement and potential Binance stake acquisition will likely have the same effect.

“The involvement of a sitting US president within a crypto exchange could attract heightened regulatory scrutiny, as concerns over political influence may affect market dynamics. This could lead to regulations that stifle innovation, create barriers for smaller players, and ultimately harm the growth and inclusivity of the crypto industry,” John said.

However, John added that he considered this result unlikely. Sirkia agreed, arguing that Trump’s participation would boost regulatory clarity.

“‬‭If‬‭ true,‬‭ this‬‭ would‬‭ be‬‭ a‬‭ huge‬‭ plus.‬‭ It‬‭ would‬‭ send‬‭ a‬‭ message‬‭ that‬‭ crypto‬‭ is‬‭ not‬‭ on‬‭ the‬‭ fringes‬‭ but‬‭ part‬‭ of‬‭ the‬‭ future‬‭ financial‬‭ landscape‬‭ of‬‭ the‬‭ US‬‭ Regulatory‬‭ clarity‬‭ could‬‭ actually speed up under a pro-crypto approach,” he said. 

However, the news has already polarized the broader political arena. The Senate Banking, Housing, & Urban Affairs Committee Minority under Senator Elizabeth Warren has already spoken against Trump’s ties with Binance.

Similarly, users who strongly adhere to blockchain’s core principles of decentralization and privacy may feel more inclined to migrate elsewhere.

Potential for User Migration Toward DEXs

Wayn believes a Trump stake in Binance could urge users to transition from centralized exchanges to decentralized alternatives.

“‭There‬‭ is‬‭ a‬‭ real‬‭ possibility‬‭ that‬‭ users‬‭ and‬‭ developers‬‭ might‬‭ flee‬‭ for‬‭ decentralized‬‭ alternatives‬‭ if‬‭ they‬‭ perceive‬‭ BNB‬‭ Chain‬‭ to‬‭ be‬‭ falling‬‭ under‬‭ political‬‭ influence.‬‭ But‬‭ that’s‬‭ not‬‭ necessarily‬‭ bad‬‭ news‬‭ for‬‭ the‬‭ industry‬‭ as‬‭ a‬‭ whole‬‭– ‬‭ it‬‭ could‬‭ push‬‭ users‬‭ to‬‭ explore‬‭ alternative‬‭ blockchains‬‭ and‬‭ decentralized‬‭ exchanges.‬‭ It‬‭ would‬‭ also‬‭ be‬‭ an‬‭ opportunity‬‭ to‬‭ highlight‬‭ the‬‭ advantages‬‭ of‬‭ decentralized‬‭ technologies‬‭ more‬‭ broadly,‬‭ which‬‭ are,‬‭ by‬‭ default,‬‭ unbiased‬‭ as‬‭ they‬‭ operate‬‭ off‬‭ of code and not beliefs,” he said.

Kadan Stadelmann, Chief Technology Officer at Komodo Platform, doesn’t necessarily think a mass migration will occur. He does think, however, that these announcements will further reinforce crypto aficionados’ beliefs on privacy.

“Those‬‭ who‬‭ use‬‭ crypto‬‭ for‬‭ its‬‭ privacy‬‭ potential‬‭ have‬‭ long‬‭ been‬‭ suspicious‬‭ of‬‭ centralization‬‭ in‬‭ any‬‭ chain,‬‭ and‬‭ gravitate‬‭ towards‬‭ those‬‭ projects‬‭ which‬‭ offer‬‭ privacy.‬‭ Trump’ s‬‭ stake‬‭ in‬‭ Binance‬‭ won’t‬‭ surprise‬‭ them,‬‭ though‬‭ it‬‭ might‬‭ make‬‭ them‬‭ more‬‭ hardcore‬‭ in‬‭ their‬‭ preferences‬‭ for‬‭ truly‬‭ decentralized systems,” Stadelmann told BeInCrypto.

Meanwhile, those in crypto exclusively for profit reasons will remain indifferent to any potential Trump-related conflicts of interest.

Financial Gains Over Decentralized Ideals

For crypto users primarily motivated by profit, the nuances of data control and decentralization are often secondary concerns.

“Much‬‭ of‬‭ the‬‭ public‬‭ globally‬‭ is‬‭ in‬‭ the‬‭ dark‬‭ about‬‭ what‬‭ companies‬‭ do‬‭ with‬‭ their‬‭ data‬‭ and‬‭ they‬‭ don’t‬‭ feel‬‭ as‬‭ though‬‭ they‬‭ have‬‭ any‬‭ say‬‭ in‬‭ how‬‭ the‬‭ companies‬‭ handle‬‭ their‬‭ data.‬‭ The‬‭ resignation‬‭ suggests‬‭ crypto‬‭ users‬‭ interested‬‭ in‬‭ the‬‭ technology‬‭ for‬‭ its‬‭ money-making‬‭ potential‬‭ won’t‬‭ protest‬‭ Trump’s‬‭ stake‬‭ in‬‭ Binance,‬‭ and‬‭ the‬‭ platform‬‭ will‬‭ continue‬‭ to‬‭ grow—especially‬‭ with‬‭ financial‬‭ backing from the monied-classes of which Trump is a part,” Stadelmann concluded.

Regardless of the outcome, the ongoing debate surrounding Trump’s potential influence illustrates the inherent tension between pursuing mainstream adoption and preserving crypto’s decentralized ethos.

This tension will likely drive the industry’s evolution. The side that pulls the hardest will shape the final result.

Disclaimer

Following the Trust Project guidelines, this feature article presents opinions and perspectives from industry experts or individuals. BeInCrypto is dedicated to transparent reporting, but the views expressed in this article do not necessarily reflect those of BeInCrypto or its staff. Readers should verify information independently and consult with a professional before making decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.





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Don’t Fall for These Common Crypto Scams

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ZachXBT, a well-known blockchain investigator, recently shared two key “minimum checks” on Telegram to avoid crypto scams.

He emphasized that users must accept full financial responsibility if they take risks in these situations and added that recovering lost funds would be extremely difficult.

Evaluating a Project’s Credibility is Crucial

ZachXBT highlighted two critical scenarios: depositing funds into forked DeFi protocols on newly launched EVM chains and getting scammed by projects with few smart followers on Kaito.

“If you make either of these decisions, it is your own personal choice to risk funds, and I will NOT help you,” ZachXBT stressed.

Many newly launched DeFi protocols on EVM chains are replicas of existing ones. Their teams often do not create original code but instead, fork from established protocols. This process requires minimal technical skills yet introduces significant security risks.

A recent incident highlighted the risks in the DeFi space. The DeFi protocol SIR.trading was reportedly hacked, leading to an estimated loss of $350,000. Despite the project’s documentation promoting it as a “new DeFi protocol for safer leveraged trading,” it acknowledged the risks related to smart contract vulnerabilities.

This case illustrates how new DeFi protocols often become targets for hackers. Additionally, in late March, the DeFi lending protocol Abracadabra suffered a loss of approximately $13 million due to an exploit involving collateralized tokens.

The second situation ZachXBT warned about involves getting “rugged” (falling victim to a rug pull) by projects with few smart followers on Kaito. Kaito is an AI-powered analysis tool that measures real community interest. He advised that checking followers’ numbers and quality is a basic step to avoid falling for projects that use fake engagement or empty marketing hype.

Investor Xero agreed with ZachXBT, stating that Kaito can be a credibility assessment tool.

“Kaito has become an amazing security and reputation tool that I value over others. It can help you identify an impersonator or a new rug project fast. If a 40k+ follower project isn’t connecting with real smart followers, it’s not legit,” Investor Xero commented.

Other Emerging Crypto Scams

In addition to ZachXBT’s warnings, several new scam tactics have recently been flagged.

Investor Jerome warned about a scheme that exploits browsers’ automatic download function to trick users into downloading malicious software.

Another method involves scammers creating and sending small transactions. They would be often as little as 0.001 tokens—using fake wallet addresses that closely resemble legitimate ones. Their goal is to deceive users into copying and pasting the fraudulent address when making future transactions.

Additionally, Microsoft has identified StilachiRAT, a new remote access trojan specifically designed to target cryptocurrency wallets and login credentials.

According to a Chainalysis report, from 2021 to 2024, decentralized finance (DeFi) platforms have been the primary targets of crypto hacks.

Amount of Funds Stolen by Victim Platform Type. Source: Chainalysis
Amount of Funds Stolen by Victim Platform Type. Source: Chainalysis

The report explains that DeFi platforms may be more vulnerable because developers prioritize rapid growth and launch over security measures. This lack of security focus makes them prime targets for hackers.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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This Is How Dogecoin Price Reacted To Elon Musk’s Comment

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Dogecoin has faced a series of setbacks recently, including a failed breakout attempt that led to a decline in its price. This downward movement was further exacerbated by a recent comment from Elon Musk, which cast doubt on Dogecoin’s future. 

However, despite these challenges, the altcoin is showing some signs of recovery, largely driven by long-term holders (LTHs) who accumulate more DOGE at current low prices.

Dogecoin Is Facing Mixed Signals

Dogecoin’s Network Value to Transaction (NVT) ratio has spiked significantly, reaching a three-month high. This suggests that the network’s value does not match the number of transactions, pointing to a possible lack of investor confidence. 

Elon Musk’s recent comment regarding DOGE further fueled the discourse surrounding the cryptocurrency. He clarified that the US government does not intend to use Dogecoin in any form, which led to some negative sentiment. This statement dampened expectations for the coin, although it hasn’t completely derailed its market standing.

Dogecoin NVT Signal.
Dogecoin NVT Signal. Source: Glassnode

The macro momentum of Dogecoin shows signs of stabilizing, as evidenced by the recent spike in the HODLer Net Position Change. LTHs have been actively accumulating DOGE during the recent dip, which indicates strong conviction among these holders.

This accumulation provides a level of support, potentially helping the coin recover and preventing further price declines. The increased position change suggests that LTHs are confident in the long-term viability of Dogecoin despite recent market turbulence and Musk’s controversial comment.

This continued accumulation by LTHs could lead to a floor forming under Dogecoin’s price, providing a buffer against further bearish pressures. As the market stabilizes and sentiment shifts, these holders could become a driving force that will trigger the next upward movement.

Dogecoin HODLer Net Position Change
Dogecoin HODLer Net Position Change. Source: Glassnode

DOGE Price Stumbles, But Can It Recover?

Dogecoin is currently trading at $0.163, with the price just below the support level of $0.164. Over the last five days, the coin has experienced a 16% decline following a failed attempt to break through the $0.198 resistance level. This failure to breach key resistance levels indicates that DOGE may not experience immediate price gains without external catalysts.

Given the current market conditions, it’s likely that Dogecoin will not experience significant declines in the near future. The coin may reclaim $0.164 as support and continue consolidating just below the $0.198 resistance. However, this consolidation could persist until stronger market cues emerge to push the price higher.

Dogecoin Price Analysis.
Dogecoin Price Analysis. Source: TradingView

The only scenario in which this bullish-neutral outlook would be invalidated is if Musk’s comment causes further damage to DOGE’s price. In that case, the meme coin could dip to $0.147, extending its recent losses. A sustained downturn would signal more negative sentiment in the market and potentially halt Dogecoin’s recovery.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Bitcoin Price Nears $80,000; Fuels Death Cross Potential

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Bitcoin’s recent price action has shown some concerning signs. The crypto king has failed to break through key resistance levels, leaving it vulnerable to further declines. 

As Bitcoin inches closer to testing the $80,000 support level, the potential for a Death Cross looms, increasing bearish sentiment in the market.

Bitcoin Investors Are Skeptical

Short-Term Holders (STHs), who buy at higher prices, are primarily responsible for the ongoing losses. These investors have been actively noting losses in response to Bitcoin’s volatile market conditions, reflecting the unpredictable environment that has made it difficult for new investors to navigate.

Meanwhile, Long-Term Holders (LTHs) continue to realize profits, benefiting from their extended market presence. However, the current market conditions show stagnation in new capital inflows, with LTH profits offset by STH losses. This creates weaker demand and resistance, signaling a potential slowdown in price momentum.

Maintaining bullishness in the market typically requires consistent capital inflows, but the market now seems to be lacking that crucial support. The overall sentiment reflects a neutral stance, with both profit-taking and loss-realization balancing out.

Bitcoin Realized Profit/Loss
Bitcoin Realized Profit/Loss. Source: Glassnode

The crypto king’s macro momentum is showing additional signs of bearish pressure, particularly with the Exponential Moving Averages (EMAs). The 200-day EMA is less than 3% away from crossing the 50-day EMA, which would result in a Death Cross. This technical pattern has historically signaled significant corrections in price, marking a potential end to Bitcoin’s 18-month-long Golden Cross.

As the EMAs approach this critical point, traders and investors are closely watching for any signs of a correction. The fear of a Death Cross brings further concern to Bitcoin’s price stability. If the 50-day EMA crosses below the 200-day EMA, it could trigger more sell-offs, intensifying the bearish sentiment in the market.

Bitcoin Death Cross Nears
Bitcoin Death Cross Nears. Source: TradingView

Is BTC Price Primed For Further Decline?

Bitcoin is currently trading at $82,248, nearing the key psychological support level of $80,000. Despite attempts at a breakout, Bitcoin has failed to move beyond the two-month-long broadening descending wedge pattern. This pattern suggests that Bitcoin could be on the brink of further decline.

If the downward momentum persists, Bitcoin is likely to fall through the $80,000 support level and approach $76,741. This scenario would reinforce the bearish outlook, especially considering the technical indicators and the lack of strong buying support. A breakdown below these levels could signal a deeper correction, with the potential for further declines.

Bitcoin Price Analysis.
Bitcoin Price Analysis. Source: TradingView

However, this short-term bearish thesis can be invalidated if Bitcoin’s price manages to reclaim $82,761 as support. If Bitcoin breaks through the $85,000 barrier, it could break out of the current pattern, signaling a potential reversal. A strong rally above $86,822 would suggest a resumption of the bullish trend, invalidating the bearish momentum that currently dominates the market.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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