Bitcoin once again signals a bullish trend historically, a golden cross, as traders aim for the $150,000 mark. Currently trading at $105,597 with a daily trading volume of over $35 billion, BTC has slightly declined after the latest golden cross.
This setup occurs when the 50-day moving average crosses above the 200-day moving average, which is often seen as the beginning of a long-term bullish trend.
Chain Mind, a widely followed cryptocurrency analyst, notes that this pullback is not unusual. In fact, it reflects what happened at the end of 2024.
At that time, Bitcoin dropped 10% right after the golden cross, only to soar over 60% in the following two months. The recent 8% drop after the cross seems to be following the same scenario.
He emphasizes patience. While many expect immediate profits from a golden cross, history shows that this pattern often starts with a decline before a broader price increase occurs. According to Chain Mind, the setup remains intact and the $150,000 target by year-end is still realistic.
Bitcoin holds an important support zone.
What reinforces the bullish trend is Bitcoin's ability to maintain above the 200-day moving average, currently near $94,700. This level serves as an important long-term support. As long as BTC holds above this level, Bitcoin price predictions remain bullish.
Chain Mind also highlights the increase in Bitcoin dominance, reaching a three-year high. Investors are rotating capital from altcoins back into Bitcoin, viewing it as a safer store of value amid a broader unstable market.
Consider the following signs of strength:
Bitcoin's dominance is increasing, while altcoins are gradually losing ground.
Ethereum (ETH) is struggling to hold above $2,500.
Altcoins like SOL and ADA have broken through important support levels.
Long-term holders continue to hold BTC rather than sell.
This indicates continued institutional interest. Companies like Metaplanet and Strategy have purchased large amounts of Bitcoin, while spot ETFs continue to see inflows, despite price volatility.
Institutions support Bitcoin, not Altcoins.
One of the clearest signs that Bitcoin remains favored is the behavior of large investors, often referred to as 'whales'. On-chain data shows a significant portion of Bitcoin supply has remained unchanged for months, reinforcing the view that long-term holders are not being shaken.
Conversely, Altcoins are under pressure. Many are not only lagging behind BTC but also declining against the US dollar. Chain Mind points out that until sentiment improves and key percentages, such as ETH/BTC or SOL/BTC, begin trending higher, Bitcoin will continue to dominate.
In summary:
The golden cross pattern traditionally tends to be bullish, even if prices decline in the short term.
BTC price holds above the support level of $94,700, supporting the bullish trend.
The increase in dominance and capital inflows from institutions indicates a potential surge.
For both traders and investors, this is a classic case of 'consolidation'. Short-term noise can rattle nerves, but structurally, the setup for a strong Bitcoin rally up to $150,000 appears to remain intact.