BlackRock’s Bitcoin ETF just formed its first death cross in history

BlackRock’s iShares Bitcoin Trust (IBIT) has just printed its first ever death cross, marking a notable technical milestone for the world’s largest spot Bitcoin ETF. According to data captured by Finbold on December 12, the ETF’s short term moving average has crossed below its long term trend line, a signal traditionally associated with weakening momentum and growing downside risk. BlackRock’s IBIT Bitcoin ETF hits death cross. Source: Finbold/TradingView The move comes after IBIT failed to hold its summer highs, with price sliding toward the low $50 range after peaking above $70 earlier in the year source: https://finbold.com/blackrocks-bitcoin-etf-just-formed-its-first-death-cross-in-history/