The total crypto complex was down over $200 billion on Monday, and bitcoin was registering solid losses, imperiling a potential bullish formation in the charts for the world’s No. 1 digital asset.

At last check, bitcoin BTCUSD was more than 7% lower at about $44,376.50, and off 16% from an its early September peak. A recent uptrend for bitcoin had put the asset on the verge of a so-called golden cross, where the 50-day moving average crosses above its longer-term 200-day moving average.

However,…

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