Bitcoin Flashes Bearish Signal. Is 10% Drop Imminent?

The cryptocurrency market is bracing for a potential downturn as a crucial technical metric is flashing warning signs for Bitcoin. This development coincides with a cautionary note from Wall Street powerhouse Goldman Sachs, which is warning of an impending sell-off in risk assets, potentially creating a challenging environment for the leading digital currency.

According to a tweet from analyst Ted on April 28, 2026, Bitcoin's daily chart has exhibited a bearish MACD cross, a signal that has historically preceded significant price drops. The last time this occurred, the cryptocurrency experienced a nearly 10% decline over the course of a week.

For the uninitiated, the MACD indicator is a widely followed tool used to gauge shifts in market momentum. It operates by tracking the convergence and divergence of short-term and long-term momentum lines. When the short-term line crosses below the long-term line, it is considered a bearish cross, signifying that the bulls are losing steam and the bears are gaining control.

Bitcoin's struggles to gain traction are particularly noteworthy, given the contrasting performance of traditional markets. Earlier in April, the S&P 500 and Nasdaq 100 reached record highs, buoyed by robust corporate earnings and easing geopolitical tensions. In contrast, Bitcoin has failed to capitalize on this momentum, remaining mired in a slump that has seen it decline by approximately 39.6% from its all-time high of $126,080, achieved on October 6, 2025.

The technical headwinds facing Bitcoin are being exacerbated by a looming macroeconomic storm. In a recent note, John Flood, head of Americas equities execution services at Goldman Sachs, cautioned investors to prepare for a near-term pullback across risk assets. This warning suggests that the broader market environment may not provide a supportive backdrop for Bitcoin, potentially amplifying the downside pressure on the cryptocurrency.