$BTC U.Today - With the 50-day EMA now crossing above the 200-day EMA, Bitcoin has formally printed a golden cross on the daily chart. This is a classic bullish signal that frequently signals the start of a longer-term trend reversal. At $96,516, Bitcoin is still above all significant moving averages and has recovered significant ground that was lost during the February-March breakdown. Although it indicates underlying strength and a change in trend, the golden cross is not a guarantee of sudden sharp price swings.

The present price range, which is close to the point of the early 2025 breakdown, may actually serve as both structural and psychological resistance. A short-term pullback is becoming more likely as the asset consolidates following a strong rally - especially as the RSI approaches overbought territory at 69. But sentiment is not just about technical aspects. On May 1, net inflows of $422 million were made into Bitcoin spot ETFs, with BlackRock (NYSE:BLK)’s IBIT leading the way with $351 million.