Bitcoin’s (BTC) Move Below 20-Daily Moving Average Possible Short-Term Bearish Signal, Analysts Say

After rallying since the start of the year, the world’s largest cryptocurrency by market value, bitcoin, appears to be losing ground. Bitcoin ( $77,510.00 ) closed below the 20-day moving average (DMA) on Wednesday, according to data from TradingView, signaling a sign of weakness. The last time the cryptocurrency traded below the 20-DMA was in mid-March.