Bitcoin's Bullish Momentum Strengthened by Golden Cross Signal

According to Cointelegraph, Bitcoin’s $BTC recent golden cross on the daily chart is generating renewed bullish sentiment among traders. This technical pattern—formed when the 50-day simple moving average (SMA) crosses above the 200-day SMA—has historically preceded major price rallies, including gains of over 2,000% during previous bull markets like 2017 and 2020.

The most recent golden cross was confirmed in late May 2025, and since then, Bitcoin has risen by approximately 12%. While modest compared to past rallies, the signal is fueling optimism for a potential breakout. Prominent trader Merlijn noted on X (formerly Twitter) that Bitcoin could reach $155,000 in the coming months if current momentum continues.

Currently, Bitcoin is consolidating just below the $120,000 level. Analysts suggest that a strong daily close above $120K, followed by a successful retest, could confirm the next leg up toward a target around $135,000. The overall market sentiment remains positive, with Bitcoin continuing to show resilience despite broader macroeconomic uncertainties.

Notably, this rally is also supported by the first-ever weekly golden cross seen earlier in 2024, which coincided with the onset of the current bull cycle. Meanwhile, some capital appears to be rotating into altcoins, as highlighted by crypto analyst Rekt Capital.

While the technical indicators are encouraging, investors are reminded to approach the market with caution. Cryptocurrency remains a highly volatile asset class, and thorough research and risk assessment are essential before making any investment decisions.