Bitcoin Green's climb is under threat due to the impending Death Cross on its price graph.

In the dynamic world of cryptocurrency, Bitcoin continues to make headlines as it navigates through potential market shifts.

After a brief dip to $112,000 earlier in the week, the Bitcoin price has bounced back, currently hovering above $116,500, recording more than 3% daily gains. This recovery comes as Jerome Powell, the Federal Reserve Chair, hinted at potential rate cuts if the job market gets weaker.

However, the Bitcoin charts indicate a potential death cross, a bearish trend signal that could lead to bigger pullbacks in Bitcoin's price. This death cross is expected to occur when the 23-day and 50-day moving averages cross the 200-day trendline, currently around $100,600, which is the main support for Bitcoin's price.

Interestingly, open interest in Bitcoin options has slipped 3%, suggesting a focus on profit-making instead of risk-taking. This could be a sign of market participants looking to capitalise on the current market imbalance, a change in sentiment that could potentially create a situation with a lot of profit.

The total futures turnover for Bitcoin increased by 55% to $107 billion, according to CoinGlass, and options volume for Bitcoin more than doubled, reaching over $8.4 billion. The Binance and OKX ratios are above 1.4, indicating a heavily tilted market towards the long side.

Meanwhile, Ethereum surged 8% toward $4,600, adding to the risk-on mood. However, despite Ethereum's surge, the chart setup around Bitcoin's moving averages still indicates a potential death cross.

Predicting the future of Bitcoin, Yuri Molchan has predicted a new All-Time High for Bitcoin, as indicated by the term "Beyond Horizon BTC". Despite the potential bearish trend, this optimistic prediction adds an interesting twist to the current market situation.

As the market anticipates the potential death cross, it's important to note that such a cross could turn the current green run into a hangover faster than the market expects. If the shorter moving averages cross the 200-day trendline, it will result in a classic death cross.

In a broader context, Morgan Stanley expects the Fed to cut interest rates by 25 basis points in both September and December 2025, with an 87% probability of a rate cut in September according to market forecasts; the CME FedWatch Tool indicates a 94% chance of a Fed rate cut in September 2025. Markets now think there is a 90% chance of a rate cut this year.

In conclusion, while Bitcoin's price is currently above its 23-day and 50-day moving averages, the potential death cross on the charts suggests a possible bearish trend in the near future. As always, it's crucial for investors to stay informed and make decisions based on careful analysis and strategic planning.