Bitcoin Is About To Make A Golden Cross: What Happens Next?

by Khyathi Dalal Benzinga Staff Writer

Zinger Key Points

Analyst Benjamin Cowen says the upcoming golden cross could lead to a short-term rally, not a long-term uptrend.
He warns of potential weakness in Q3 2025, with $90,000–$93,000 as key support range on any pullback.
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Cryptocurrency analyst Benjamin Cowen says Bitcoin's BTC/USD soon-to-form golden cross could act as a local market peak rather than a signal of a sustained rally.

What Happened: In his update published on YouTube on May 19, Cowen noted "We're going to have a golden cross within the next few days," highlighting that the gap between the 50-day and 200-day SMAs has narrowed from $1,600 to just $600, signaling imminent crossover.

While 2023 and 2024 golden crosses led to immediate upside, earlier market cycles often saw a pattern where Bitcoin “rallied into the golden cross and then dumped right after it,” Cowen highlighted.

Cowen warns that earlier cycles—such as 2019 and 2020—show Bitcoin often rallies into a golden cross, only to sell off shortly afterward. "If Bitcoin fails to set a higher high around or after the golden cross, we could repeat 2024's pattern of lower highs and lower lows," Cowen said.

He added that Q3 is often a seasonally weak period for Bitcoin, making the timing of this golden cross particularly critical.

Also Read: Jack Dorsey Backs Renaming Bitcoin’s Smallest Unit ‘Bits,’ Calls ‘Satoshi’ Confusing

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What's Next: Cowen identifies $90,000 to $93,000 as critical support. This zone aligns with several technical markers – the 20-week simple moving average and 21-week exponential moving average (bull market support band) and the 50-day and 200-day SMAs.

For investors worried about downside risk, Cowen still favors Bitcoin over altcoins, noting BTC is currently trading just 2% below its all-time high, while altcoins remain 23–24% off their peaks.

He emphasized that Bitcoin provides the best risk-reward profile: "Bitcoin gives you exposure to the upside while minimizing downside risk."

He also pointed out that Bitcoin dominance tends to rise during sideways or bearish conditions, seen clearly in summer consolidations of both 2023 and 2024 and expects that pattern to hold if the market enters another cooling phase.

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