Bitcoin Plunges Below $83.4K as Death Cross Signals Deepening Bear Market

Bitcoin tumbles 6.5% to $83,405 as a confirmed death cross—50-day EMA crossing below 200-day EMA—signals escalating bearish momentum. Investors flee to gold and silver amid U.S. fiscal uncertainty and yen intervention fears, exposing crypto’s fragility as a crisis hedge. The coin has shed key supports since its January peak near $97,000. With ADX at 24 (below trend-strength threshold) and volume confirming heavy selling, technicals suggest further downside. Immediate resistance sits at $88,000; failure to reclaim it opens path to $74,000 (April 2025 low), then $65,000. Altcoins like DOGE, XRP, and ADA hit 2024 lows. Over $800M in crypto positions liquidated as Squeeze Momentum Indicator shows no reversal energy building.