Bitcoin About to Print a Golden Cross: What Does it Mean for BTC’s Price?

Higher-than-expected inflation in the United States, a political shift in America, waning interest in risk assets, and other factors have weighed heavily on the number one cryptocurrency, which has tumbled 12% over the past month and now trades near $73,400 (per CoinGecko).

And while some market observers anticipate a further plunge in the short term, others expect BTC to stage an impressive comeback.

Golden Cross Incoming?

Among the optimists is X user Merlijn The Trader, who recently noted that the cryptocurrency is about to print a so-called golden cross on the three-day chart. This development occurs when BTC’s shorter-term trend overtakes its longer-term trend, signaling that momentum is shifting back toward the bulls. Historically, the formation has preceded strong rallies for the asset.

Merlijn The Trader said the previous crossover was actually a death cross, which appeared in December last year and was followed by a major crash to $60,000 a few months later.

“Now the lines are turning. Finally, some bullish momentum after the dump. I’m already positioned. Most will buy after the move,” he added.

Other analysts who weighed in include Friedrich and CRYPTO XLARGE. The former said BTC needs “a clean close” above $75,600 to confirm a bullish deviation, and if that happens, the price could quickly explode toward $103,000.

“Otherwise, get ready to bid 60-65K or lower,” he warned.

The latter outlined that the biggest opportunities in BTC’s history rarely felt like blessings at the time, yet every big correction eventually became part of the next bull market.

“Today, we’re facing another period of uncertainty. The question is not whether Bitcoin will experience volatility. It’s whether you’re looking at the current correction with fear or a long-term perspective. The best entry points are often the ones that feel the hardest to take,” the analyst stated.

Whales and More

Contrary to the bullish outlook presented by the aforementioned analysts, recent whale activity suggests BTC could suffer even more in the near future. As CryptoPotato reported, large investors offloaded more than 34,000 units in a week. The stash is worth roughly $2.6 billion and signals waning conviction among these market participants, a sentiment that could spread to smaller investors and accelerate the downturn.

Another bearish element is the rising amount of coins stored on crypto exchanges. According to CryptoQuant, the figure has surged to a two-week high of around 2.863 million, suggesting some investors have shifted from self-custody to centralized platforms, increasing immediate selling pressure.

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