Bitcoin Drops 33% to $84K Following Death Cross Signal

Bitcoin has fallen 33% to $84,000 since registering a death cross on November 16, when its 50-day moving average crossed below the 200-day moving average. The CMC Fear and Greed Index now stands at 11, its lowest level since July 2023. Historical data shows death crosses have typically preceded positive returns within three months, though current macroeconomic conditions may present different dynamics.