$BTC
Bitcoin's weekly K-line has formed a golden cross!
The last time Bitcoin's weekly K-line formed a golden cross was in November 2024 when Trump won the election. The time before that was in February 2024 when the ETF entered the market, and the time before that was in October 2023 when the expectation of interest rate cuts surged. All three of these waves experienced very strong upward momentum, lasting approximately 4 to 6 weeks.
However, I personally believe this is an M-top, the last madness before the storm, as this wave of increase actually lacks substantial positive news; the only points that can be mentioned are tariffs and interest rate cuts. The tariff policy caused Bitcoin to drop from 88,000, and surprisingly, after the tariffs were eased, it rose to the point of a dip and even much higher, which is abnormal. Let's talk about interest rate cuts; regarding interest rate cuts, Powell still maintains a procrastination stance and has never given a clear indication. Therefore, this wave of increase is relatively strange, and the positive news is not as strong as in the previous three golden crosses on the weekly K-line.
Tariffs are definitely not a springboard for the bull market; interest rate cuts are.
So whether we can sprint to new heights depends on interest rate cuts.