Cardano (ADA) has created a lethal “death cross” versus Bitcoin (BTC) on its daily chart – a market indicator that is typically seen as a warning of additional downside in the near future. When an asset’s short-term moving average closes below its long-term moving average, the ominous-sounding indicator activates. As a result, it encourages technically savvy traders to expand their negative bets in the market. On Tuesday, ADA’s 50-day exponential moving average (50-day EMA; the velvet wave) dropped below its 100-day exponential moving average (100-day EMA; the blue wave). This is owing in part to ADA’s previous pricing responses to death crosses. For example, after painting a 50–100 EMA bearish crossover in the market in September 2020, the Cardano token’s price plummeted about 38.50 percent versus Bitcoin.