Bitcoin's Death Cross Signals Short-Term Weakness Amid $100,000-$105,787 Range

Bitcoin has recently displayed an hourly "death cross" signal, indicating that the short-term moving average has fallen below the long-term moving average. This technical indicator is generally seen as a sign of short-term market weakness. As of May 18, 2025, Bitcoin has been trading within a narrow range between $100,703 and $105,787, with neither bulls nor bears able to gain a decisive edge. This consolidation phase has left the market in a state of uncertainty, with traders closely watching for a confirmed break above or below the current range to determine the next move for Bitcoin.

A break above the $105,787 resistance level could reignite bullish momentum, potentially driving the price higher. Conversely, a dip below the $100,703 support level may pave the way for a deeper correction, as bears could take control and push the price lower. The market's next move will be crucial in determining the short-term direction of Bitcoin.

Prominent figures in the crypto industry have shared their predictions for Bitcoin's future. Arthur Hayes, a well-known figure in the crypto space, has predicted that Bitcoin could surge to $1 million in the next three years. Hayes' prediction is based on his analysis of macroeconomic factors and the potential for Bitcoin to become a preferred haven for investors. He believes that strong tailwinds, including potential foreign capital repatriation and the devaluation of U.S. Treasury stocks, could drive this price increase.

Another industry expert, Filbfilb, has emphasized the significance of the $100,000 psychological barrier as support and highlighted the market's strive for a $2 trillion market cap. Despite short-term fluctuations, the overall sentiment remains bullish, with market participants observing targets ranging from $120,000 to $150,000 by mid-year. According to the analyst's forecast, the long-term outlook for Bitcoin remains positive, with many investors and traders optimistic about its potential.

In conclusion, while the recent "death cross" signal suggests short-term weakness, the long-term outlook for Bitcoin remains positive. Traders should closely monitor the market's movements and be prepared for potential fluctuations. Understanding the underlying factors and maintaining a strategic approach could help investors navigate the crypto market's complexities.