Bitcoin Bear Market Confirmed, Ether Sees Death Cross

Bitcoin's monthly Moving Average Convergence Divergence (MACD) histogram printed its first red bar below the zero line in November, confirming a bullish-to-bearish trend change and suggesting the recent bull run has ended. This bearish crossover echoes signals seen before significant downturns in 2021, 2018, and 2014. The bearish outlook is reinforced by macro risks like Japan's fiscal strain, a resilient dollar index, and recent spot ETF outflows, urging traders to watch for downside volatility with initial support near $84,500. Concurrently, Ether (ETH) has confirmed a 'death cross,' where its 50-day Simple Moving Average crossed below the 200-day SMA, indicating short-term weakness relative to the long-term trend, although the reliability of this signal for Ether has been mixed historically.

(Source：CoinDesk)