Bitcoin (BTC) Forms Golden Cross: Details

Bitcoin, the first and largest cryptocurrency by market capitalization, has just formed a golden cross. The last one was spotted in early February

A golden cross is a chart pattern in which a shorter-term moving average, usually the daily MA 50, crosses over a longer-term moving average, usually the MA 200, indicating a rising bullish trend. A golden cross suggests that short-term price momentum is outpacing long-term price momentum, which could lead to a bull run. Bitcoin surged 30% in two weeks, reaching levels above $35,000 for the first time since May 2022. Expectations that the U.S. Securities and Exchange Commission will allow exchange-traded funds to invest directly in Bitcoin drove the largest cryptocurrency by market value to a high of $35,157 on Oct. 27—its highest level in roughly 18 months

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