Bitcoin’s moving averages flash red as $BTC slips below $76,613.13

Bitcoin’s $BTC price of $76,613.13 has fallen below both bundles of the Guppy Multiple Moving Average, or GMMA, on the daily chart, with the short-term bundle also slipping below the long-term one. The indicator, created by trader Daryl Guppy, plots moving averages using short- and long-term periods to gauge market trends.

According to Guppy, a short-term GMMA bundle crossing below the long-term bundle indicates that traders are selling, while confirmation comes when the long-term bundle also begins to turn lower. That confirmation is present now: the long-term bundle’s red lines are compressing and starting to slope downward as investors reduce aggressive buying.

Bitcoin recorded similar GMMA setups in late January and late May. The late-January crossover preceded a decline from roughly $90,000 to around $62,000, while the late-May signal was followed by a sharp drop below $60,000 in the first week of June. Previous bearish readings did not always lead to further losses, as signals in August and September 2025 failed after prices quickly turned higher.

The latest signal comes alongside sharp ETF outflows, signs of weakening US demand and increased demand for downside protection in options. Seasonality remains positive, with historical data showing that bitcoin tends to rally after the midterms.