BlackRock’s iShares Bitcoin Trust (IBIT) has just printed its first ever death cross, marking a notable technical milestone for the world’s largest spot Bitcoin ETF.
According to data captured by Finbold on December 12, the ETF’s short term moving average has crossed below its long term trend line, a signal traditionally associated with weakening momentum and growing downside risk.
The move comes after IBIT failed to hold its summer highs, with price sliding toward the low $50 range after peaking above $70 earlier in the year. While the ETF remains firmly above its early 2024 launch levels, the crossover signals a clear shift in trend structure rather than a routine pullback.
BlackRock Bitcoin ETF technical analysis
From a technical perspective, the death cross reflects sustained selling pressure over recent weeks, rather than a single sharp drawdown. IBIT has been posting lower highs since October, and the loss of upward momentum is now visible across both moving averages and relative strength indicators.
The 14 day RSI has hovered in the low 40s, suggesting bearish momentum without reaching deeply oversold conditions. This positioning often aligns with grinding declines or extended consolidation rather than an immediate reversal.
Importantly, this is the first time such a signal has appeared since IBIT’s launch, giving it added symbolic weight. However, market participants remain divided on its practical significance. In traditional equity markets, death crosses are often lagging indicators that appear after much of the downside has already played out.
For Bitcoin linked products, the signal may reflect broader cooling across the crypto market following a strong first half of the year, rather than a definitive bearish regime shift.
While the death cross does not guarantee further losses, it reinforces the idea that upside momentum has stalled for now. For IBIT to negate the signal, price would need to stabilize and reclaim key moving averages with renewed volume, something that has yet to materialize.
As Bitcoin ETFs mature and attract longer term holders, technical signals like this may increasingly reflect sentiment shifts among institutional investors, rather than short term speculative flows alone.
