Bitcoin Enters Potential Bear Phase Amid On-Chain ‘Death Cross’

Bitcoin ($BTC) is reportedly going through a considerable momentum shift. As per the latest data from Glassnode, the trends of Bitcoin’s realized price are indicating a potential entry to a bearish phase as the overall momentum is decreasing. The blockchain analytics firm discussed the current bearish outlook of the Bitcoin market in a recent X post.

An on-chain analogue to the Death Cross has emerged. The 30-day volume-weighted price of $BTC has crossed below the 180-day, signaling weakening momentum. Historically, this pattern preceded 3–6 months of bearish trends.

Live chart: https://t.co/uEn5ko2Lge pic.twitter.com/T6lWFhLRE6

— glassnode (@glassnode) April 3, 2025

Bitcoin’s Realized Price Outlook Signifies Entry to Bearish Market Phase

The market data suggests that, in line with Bitcoin’s trend dealing with realized price, the top cryptocurrency token is likely entering a bearish phase. Additionally, an on-chain analogue to a potential “Death Cross” has reportedly emerged. This takes place parallel to a dip in Bitcoin’s thirty-day volume-weighted price below its 180-day equivalent. Based on the historical data, this type of crossover occurs before bearish trends and lasts for up to 3 to 6 months.

A “Death Cross” refers to a scenario in which a short-term moving average drops lower than a long-term moving average. This highlights a wider downward momentum. Particularly, in Bitcoin’s case, an analogous effect is taking place in the metrics of the realized price of Bitcoin. These metrics gauge the short-term holders going through huge financial stress. It is a pattern that normally follows the wider market downturns.

On-Chain ‘Death Cross’ Displays Cautionary Sign Amid Potentially Cooling Down Momentum

Although the historical trends offer no guarantee about the upcoming market movements, the on-chain Death Cross presents a cautionary indication about Bitcoin’s market scenario. According to Glassnode, Bitcoin’s realized price movements point toward a cooling market momentum. This makes it critical for market members to stay vigilant and evaluate their strategies for risk management. Overall, the short-term investors an traders may require to exercise calmness while Bitcoin overcomes this phase of likely weakness.