The death cross in a bull run refers to a technical pattern where a short-term moving average (such as the 50-day moving average) crosses below a long-term moving average (such as the 200-day moving average) during an overall rising trend in Bitcoin prices (bull market). It typically occurs during the adjustment phase of a bull run, characterized by:

1. Short-term correction signal: After a death cross, the price may temporarily fall, but it often rebounds quickly, even reaching new highs (for example, after the three death crosses in September 2023, August 2024, and April 2025, the price recovered and rose).
2. Difference from the bear market dead cross: The dead cross in a bull run is a "false drop," with a smaller adjustment, while the bear market dead cross is accompanied by a long-term plunge.
3. Current case: In November 2025, Bitcoin is approaching a death cross, but history shows that the rebound probability after a bull run death cross is relatively high. It is necessary to comprehensively judge it in conjunction with market sentiment (such as the fear index dropping to 9) and macro factors (such as Federal Reserve policy). In simple terms, a bull run death cross is a "rest stop" on the way up, not the end.