Bitcoin is once again testing a critical bullish pattern known as the golden cross – a technical setup that has historically preceded explosive rallies.
Crypto analyst Mister Crypto noted that similar formations fueled massive surges in previous cycles, including gains of over 1,500% in 2017 and 2020. With BTC hovering close to the key threshold, he believes momentum could quickly accelerate if the level holds.
The golden cross forms when the 50-day moving average climbs above the 200-day, signaling a potential shift in market sentiment from bearish to bullish.
Still, not everyone expects an immediate rally. Analyst Mac warned that Bitcoin must defend the $110,000 zone to keep the current cycle intact, pointing out that the Money Flow Index on shorter timeframes is deeply oversold – a sign that a small rebound could precede bigger moves.
Meanwhile, Fundstrat co-founder Tom Lee pointed to the broader market turbulence, saying the recent pullback in equities was “long overdue.” He emphasized the spike in volatility as a possible sign of capitulation, adding that conditions could stabilize soon.
The crypto market’s jitters also followed President Donald Trump’s decision to impose a 100% tariff on Chinese imports starting November 1, escalating tensions after Beijing announced new restrictions on rare earth exports. The move reignited concerns about global trade and risk assets – just as Bitcoin tests one of its most-watched technical levels.
Active crypto trader who also follows news related to stocks, the S&P 500, and gold. Deyan enjoys staying physically active, trains regularly, and practices calisthenics. He also likes reading sci-fi books when he has the time.
