Shiba Inu Death Cross After $441M Liquidations on BTC/ETH Expiry
Shiba Inu (SHIB) is trading under a bearish technical setup after a 1-hour “death cross” formed as the 50 MA dropped below the 200 MA. The move coincides with risk-off market conditions, including around $441M in crypto liquidations overnight and a broader sell-off.
The timing also aligns with BTC and ETH options expiry, described as the year’s largest expiry by open interest (about $14B in BTC options). Traders de-risked around expiry, while flows out of crypto ETFs added extra caution.
SHIB has slid for three straight days from March 25, with a small rebound near $0.00000571. Traders are now watching 1-hour levels: $0.00000571 as near-term support, and resistance around the 50 MA (with the 200 MA near $0.00000596). A sustained break back above the 50 MA could help target the 200 MA, but losing $0.00000571 would keep downside pressure high.
Overall, the Shiba Inu death cross narrative remains dominant: any bounce is likely fragile while liquidation-driven volatility and ETF-related caution persist.
Bearish
For SHIB, the immediate driver is the newly confirmed bearish “Shiba Inu death cross” on the 1-hour chart (50 MA < 200 MA). That technical signal is being reinforced by event-driven volatility: large liquidations overnight and de-risking around BTC/ETH options expiry. ETF outflows add a second layer of market-wide caution, which typically reduces bid strength during rallies.
In the short term, this setup favours traders pressing risk control and respecting support at $0.00000571; failure to hold it would likely trigger another leg down. A relief bounce is possible, but it appears vulnerable unless SHIB can reclaim the 50 MA and confirm strength above the resistance zone.
Longer-term, the death cross alone doesn’t guarantee a trend reversal, but it raises the probability that any bounce becomes corrective unless momentum improves and liquidation pressure fades. Historically, periods around major options expiry and liquidation clusters can create whipsaw moves, so traders may need tighter invalidation levels and faster reassessment.