Death Cross Hits Bitcoin, but Bulls Say Bottom May Be In

Crypto prices are under pressure as overall market sentiment turns sharply negative. The total market cap has slipped to about $3.25 trillion, down almost 1%. Most top coins are struggling, with Bitcoin still holding near $96,000, but showing weekly losses, and altcoins showing even weaker confidence.

Additionally, Bitcoin’s chart has , a technical signal that normally points to weakness. However, analyst Colin argues that this time the pattern could actually turn into a bullish catalyst, especially given where price action has landed.

Even though the name sounds alarming, the Death Cross has a history of appearing close to market bottoms, not tops. Bitcoin has now moved directly into a major support zone at the lower edge of its long-term channel, a technical region known for strong recovery potential. This combination has raised expectations of a near-term bounce.

The big question is whether any upward move will lead to new all-time highs or simply act as a temporary relief rally before more downward pressure.

A fundamental event arrives on December 1, when the U.S. Federal Reserve is scheduled to end quantitative tightening (QT). A shift away from liquidity reduction has historically been supportive for digital assets, including Bitcoin.

“But in the short term I am optimistic for an upward move beginning very soon. Within days,” the analyst said.

Bitcoin has fallen to around $95,000, and market sentiment has dropped into extreme fear, with the Fear & Greed Index hitting 10, one of the lowest readings seen in a long time.

that Bitcoin may have completed one more minor push downward, forming a final low within its short-term wave structure. The price has now begun to move slowly toward a resistance zone between $96,764 and $99,644, but there is still no clear bullish confirmation.

If the resistance fails to break, the price may still revisit the $91,000 region.