Originally, Moloch was a bull-headed deity of child sacrifice.

I abhor anything to do with the suffering of a child, so I'm sorry but I'm going to have to leave you to find the answers to this question alone.

I will say this, however--the owl was revered by some as a creature that could see 360 degrees in darkness, so it is a creature that was considered to be proficient at navigating in secrecy. As a bird of prey, some still revere the owl for this reason--because they operate in secrecy as predators.

In some African and Middle Eastern traditions, the owl is considered a bad omen of death.

In almost all Native American, Mayan and Aztec traditions, the owl is considered a harbinger of death. The Sioux believe the owl consumes the souls of the dead, particularly children, and they still tell stories to children based upon this belief. Sort of like the boogeyman stories--if you're bad the owl will come and eat your soul.

In the modern West, the owl is a symbol of wisdom and knowledge, but historically, it has always been seen as a bad omen and bringer of death in ancient cultures.