BTC has seen a "death cross", and the $92,000 support level is in jeopardy!

The BTC market has recently experienced a sudden change, and technical analysis shows that the "death cross" has frequently appeared, indicating that the BTC price may face a new round of decline, and may even test the key support level of $92,000. On February 17th, trading resource Material Indicators released an analysis on platform X, warning that BTC/USD may further decline.
**'Death cross' strikes, market turbulence intensifies**
Although BTC has been fluctuating within a narrow range this month, market sentiment is changing rapidly. The daily moving average (MA) indicates that the BTC price may continue to decline. Material Indicators point out that a 'death cross' has appeared on the BTC daily chart, but buying liquidity in the order book may limit the extent of the decline. Their proprietary tool, FireCharts, shows that $95,000 is the current support level, and $92,000 is the secondary support level. The market may test this range again to confirm the effectiveness of the support.
**Institutional investors withdraw, retail investors support the overall situation**
Data shows that, except for retail investors, other categories of investors have reduced their BTC holdings over the weekend. Material Indicators suggest investors to remain patient and disciplined, set clear goals, and stick to the plan. Co-founder Keith Alan said: "I am not worried about this decline. Instead, I welcome it and plan to increase my long-term holdings."
**Trading volume drops sharply, market awaits catalyst**
Due to the Presidents' Day holiday in the United States, Wall Street is closed, and the absence of institutional investors has led to a decrease in market volatility. Trading company QCP Capital pointed out that the actual volatility of BTC has dropped to 36v, and the market lacks clear catalysts, with price movements driven more by macro factors. Despite the rebound in inflationary pressures, BTC has not been significantly affected by recent macro data, and the options market is also awaiting specific policy changes.
**Summary:**
The BTC market is facing downward pressure brought by the "death cross," with the $92,000 support level becoming critical. Investors need to be cautious of market volatility and pay attention to the impact of macro factors and policy changes on the cryptocurrency market.

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