$BTC 👁️💣👁️
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Over the weekend, BTC reached a four-month high of $105,000, driven in part by Moody’s downgrade of the U.S. credit rating, which heightened concerns about fiscal stability and prompted investors to seek alternative assets like Bitcoin. 
Technically, Bitcoin is nearing a “golden cross,” a bullish indicator where the 50-day moving average crosses above the 200-day moving average. This pattern suggests potential for further upward momentum, especially if BTC can surpass the key resistance level at $106,500.  
However, some analysts caution that the recent surge might be a “bull trap,” as momentum indicators like the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) show signs of weakening. 
On-chain data indicates that if Bitcoin maintains support above $90,000, it could potentially reach a peak of $120,000 in the current cycle. 
In the broader market, altcoins such as Ethereum (ETH), Monero (XMR), and Aave (AAVE) are showing strength, potentially benefiting from Bitcoin’s momentum. 
Additionally, the UK’s recent decision to mandate crypto firms to report all customer transactions starting in 2026 underscores the increasing regulatory focus on the cryptocurrency sector. 
Overall, while Bitcoin’s recent performance is encouraging, investors should remain cautious due to potential market volatility and evolving regulatory landscapes.
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