This ominous-sounding term refers to when the cryptocurrency’s 50-day moving average crosses its 200-day moving average , and is used by some analysts as a sign that a long-term bull market is finally over.
Bitcoin’s price is currently trading at around half its all-time high of $64,000, which it hit in April this year.
The latest crash has seen bitcoin lose more than 20 per cent of its value over the last week, with further losses on Monday taking it past the dreaded death cross mark.
It is the first death cross of 2021, however history suggests that a continued market downturn is far from inevitable.
The number of factors impacting bitcoin’s price – including regulatory, institutional or sovereign endorsements, and general sentiment – means that any price model is prone to being derailed.