Bitcoin surged to nearly $106,000 today, even reaching $107,000 at one point, before retreating. While the stock market and gold trends are sluggish, Bitcoin has shown strong momentum. Ethereum leads the altcoins, rising by 5%, while Solana, XRP, BNB, and Dogecoin rose by 2-4%.
The golden cross indicates a rebound, but has the death cross already arrived?
It has been observed that Bitcoin is about to form a 'golden cross,' a typical bullish indicator that may trigger a strong rebound in the coming days. In the last two occurrences of this, Bitcoin surged by 121% and 68%, respectively. Now, everyone is watching to see if Bitcoin can reach $110,000 soon, while altcoins may perform even better.
Whenever Bitcoin experiences a 'death cross,' meaning the 50-day moving average falls below the 200-day moving average, it typically reaches a local low at this time.
This situation has occurred in the third quarters of 2023 and 2024, and it has appeared again in the second quarter of this year (2025). He now warns that if the third quarter shows weakness again this year, Bitcoin may drop again, potentially leading to more downside.
Bitcoin may be losing momentum after facing strong resistance. Momentum indicators like RSI and MACD are showing signs of weakness, indicating that even if prices rise, the momentum is weakening.
The latest rebound in Bitcoin appears stronger than previous rebounds. In early bull markets, when Bitcoin hits new highs, it tends to overheat quickly and then collapses soon after. However, this time, Bitcoin's rebound came without warning, and buying activity and market conditions appear to be more balanced. Therefore, Bitcoin may continue to rise without falling.
This indicates that the market is steadily strengthening, and not just hasty speculation; Bitcoin may sustainably break through historical highs again this time.