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Bitcoin slides 1.16% below ₹25 lakh as death‑cross technical signal sparks a broad crypto sell‑off, with Ethereum down 3.19% and Dogecoin off 22% today.
Bitcoin fell 1.16% to ₹24,73,216, slipping beneath the ₹25 lakh psychological mark and dragging the broader market lower [1]. The drop coincided with a “death cross” on the 50‑day moving average crossing under the 200‑day line, a pattern analysts link to heightened sell pressure [1]. The move adds to a week‑long correction that has seen some assets lose up to 33% from recent highs.
| At a glance | |
|---|---|
| Bitcoin price | ₹24,73,216 |
| 24h change | –1.16% |
| Key level breached | ₹25 lakh (psychological support) |
| Catalyst | 50‑day MA crossing below 200‑day MA (“death cross”) |
Ethereum, the second‑largest cryptocurrency, slid 3.19% to ₹1,52,099, posting a daily low of ₹1,47,885 [1]. Stablecoin Tether was largely unchanged, down just 0.07% at ₹78.5346, while meme coins suffered steeper losses: Dogecoin dropped roughly 22% to ₹15.699280 after hitting a low of ₹13.285243, and Shiba Inu fell over 10% to ₹0.000513 [1]. Collectively, the global crypto market on the CoinSwitch Kuber exchange was down more than 10% as of 12:10 pm [1].
The “death cross” refers to a short‑term moving average crossing beneath a long‑term average, most commonly the 50‑day moving below the 200‑day moving average, which historically signals a potential major sell‑off [1]. Over the weekend, Bitcoin’s 50‑day MA fell beneath its 200‑day MA, aligning with the observed price decline. In India, the Reserve Bank of India (RBI) maintains a cautious stance, continuing to bar banks and financial institutions from dealing with crypto despite the Supreme Court overturning an earlier ban; the RBI governor reiterated “major concerns” around crypto [1]. This regulatory environment adds to market uncertainty, especially for Indian traders.
The death‑cross pattern has reignited a broad sell‑off, underscoring how technical signals and regulatory cues together shape short‑term crypto price dynamics. Whether Bitcoin can recover the ₹25 lakh barrier or deeper technical support will be decisive for the market’s near‑term trajectory.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 2 outlets · Jul 11, 2026 · How we report
Institutional demand shows signs of return, with spot ETFs recording positive inflows, though some companies like CleanCore Solutions have divested their Dogecoin holdings.
Key support is frequently cited at $0.081, while resistance levels are identified near the 200-day EMA at $0.094–$0.095 and the $0.100 price point.
CleanCore Solutions sold its 463 million DOGE to fund a pivot from its previous business model toward AI infrastructure.
Market sentiment is mixed; while some analysts see bullish technical patterns, others point to a long-to-short ratio below 1 and whale selling as indicators of potential downside.