Bitcoin price dips below $34K as day of Grayscale’s giant BTC unlocking draws near

Among traders, talk mostly revolved around the so-called “death cross” on the BTC/USD daily and hourly charts which occurred on Friday. This refers to the 50-day moving average crossing over the 200-day moving average, and is traditionally considered to be a bad omen for price stability.

A look at network fundamentals meanwhile gave additional cause for concern.

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