Analysis: Bitcoin Approaches "Golden Cross," Long-Term Trend Reversal Signal Under Scrutiny

Odaily News: Bitcoin's recent upward momentum has strengthened, and it is approaching the formation of a "Golden Cross" technical pattern, which the market views as a long-term bullish signal.

Data shows that Bitcoin's current price has broken above $71,000, accumulating gains of over 12% in the past week. BTC's price is currently slightly above its 200-day simple moving average (SMA), with its 50-day moving average at approximately $63,976 and its 200-day moving average at around $69,005. If the 50-day moving average continues to climb and crosses above the 200-day moving average, a golden cross could form.

The 200-day moving average is commonly used to gauge the market's long-term trend. Sustained trading above this indicator is often viewed as a signal of a shift from a bear market to a bull market, while a break below it may suggest a weakening long-term trend.

Previously, Bitcoin had remained below its 200-day moving average since October 2025, when the price was around $110,000, keeping the market's long-term trend under continuous pressure. Historical data shows that BTC formed golden crosses in February 2023, October 2023, October 2024, and April 2025, each followed by further upward movements.

However, market uncertainty persists. Analysts point out that the current rally could also be merely a technical rebound rather than the start of a new long-term uptrend. If Bitcoin falls back below the 200-day moving average, the bullish thesis underpinning the golden cross may face challenges. (CoinDesk)