Bitcoin (BTC) Plunges Below 200-Day Average, XRP Eyes Death Cross

Bitcoin (BTC) fell below its crucial 200-day simple moving average of $109,380, signaling potential further downside toward $100,000, driven by a strengthening U.S. dollar index (DXY) reaching a three-month high of 99.72. This dollar strength was fueled by Federal Reserve Chair Jerome Powell's hawkish comments and the Bank of Japan's dovish stance. The decline occurred despite positive developments in U.S.-China trade relations, where an agreement was reached to cut tariffs, suggesting underlying weakness in crypto demand. Furthermore, other cryptocurrencies are struggling, with XRP appearing poised to confirm a bearish "death cross" between its 50-day and 200-day moving averages.

(Source：CoinDesk)