The bearish crossover of Bitcoin’s 20-day and 200-day exponential moving averages suggests a dip toward $40,000-$42,000 in the near future. On the Bitcoin (BTC) daily chart, a technical sell signal is set to materialize.

A death cross, a market indication that happens when a short-term moving average falls below a long-term moving average, may occur in the BTC price. In this instance, Bitcoin’s 20-day exponential moving average (20-day EMA) will fall below its 200-day EMA (200-day EMA).

Given its track record of anticipating bear movements in advance, the signal may wind up alerting traders and investors to a potential selloff in the coming sessions. For example, the 20-200 bearish crossover that happened on May 30, 2021, had a role in collapsing the BTC price from $36,500 to $28,800 in the next 24 days.

Bitcoin has been correcting consecutively across the last four weeks and looks poised to close the ongoing weekly session in losses, as well, primarily with the Federal Reserve taking more aggressive action on inflation.

In the last 30 days, the BTC price has fallen by nearly 17.50%, including a correction from its record high of $69,000 on Nov. 10. In doing so, the cryptocurrency briefly fell to $42,333, only to rebound sharply later, paring some losses.

Bitcoin fear and greed index on Tuesday, December 21, 2021, went from the fear level of 25 to the level of 27 as per the alternative. me. The Fear and Greed index is a technique for assessing investors’ emotions toward the market.

Bitcoin is currently trading around $48,507.64, up 4.70%. In the last 24 hours, the highest it touched was $48,781.50 and the lowest was $45,579.81. Bitcoin has a current market cap of $916,978,081,318. It has a circulating supply of 18,906,618.00 BTC coins and a maximum supply of 21,000,000 coins.

Anyswap rebrands to multichain and raises $60 Million led by Binance labs

Binance Labs, the crypto exchange’s venture capital and incubation arm, led a $60 million seed round in Multichain, formerly Anyswap. The cross-chain protocol counts over 300,000 users, according to a press release shared with CoinDesk. Public data shows the protocol has roughly $4.8 billion in total value locked. Multichain will use the funds to expand its ecosystem and team, particularly research on crypto algorithms, security, and user service.

Gear Technologies raises $12 million in funding to accelerate smart-contract development on Polkadot

Gear Technologies, a smart-contract layer supporting the Polkadot blockchain framework, has raised $12 million in a funding round led by Block change, with participation from Three Arrows Capital, Lemniscap, Distributed Global, and a host of other venture capitalists. A number of top executives of Web3 Foundation and Parity Technologies also participated, including Polkadot founder Gavin Wood, who said in a statement that Gear’s infrastructure efforts “will benefit our entire ecosystem.”

In an ongoing legal battle, Do Kwon and Terra claim that the SEC violated procedure

Terraform Labs and its CEO, Do Kwon, are challenging the U.S. Securities and Exchange Commission (SEC), claiming the regulator improperly served Kwon subpoenas at Mainnet 2021 despite not having jurisdiction over Kwon or his company. They have asked a New York court to dismiss the subpoenas. Terraform filed a motion last Friday opposing an SEC effort to compel Kwon and Terraform Labs to cooperate with subpoenas issued in the SEC’s ongoing investigation of Terra’s Mirror Protocol. The SEC filed its motion last month after Terraform and Kwon sued the agency on claims that it violated its own rules and the Due Process Clause of the U.S. Constitution in serving Kwon in September.