Bitcoin (CRYPTO: BTC) is back in the headlines, this time flashing a textbook Golden Cross — a bullish technical pattern that has historically preceded massive rallies in the crypto's price.
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Golden Cross Sparks Momentum Shift
The golden cross occurs when the 50-day moving average crosses above the 200-day moving average, signaling a shift in long-term momentum. It signals the onset of a bullish run.
With BTC already smashing through $112,000 and comfortably above its key short-term moving averages, traders are reading this as a green light for more gains.
The chart doesn't lie. Bitcoin's eight-day, 20-day and 50-day simple moving averages all sit below the current price, reinforcing bullish momentum. The MACD (moving average convergence/divergence) indicator flashes a hefty +3,824 and the RSI (relative strength index) hovers at 67.83 — hot, but not overheated.
Strategy Doubles Down With $427M Bitcoin Buy
This move comes on the heels of fresh firepower from Strategy Inc (NASDAQ:MSTR), the corporate titan with the world's largest Bitcoin treasury. The company just scooped up 4,020 BTC for $427 million, pushing its total haul to a staggering 580,250 coins.
Its average buy-in? A cool $69,979.
That latest buy was funded through at-the-market offerings, part of Strategy's long-running bet that Bitcoin isn't just a digital currency — it's the future of money.
With the crypto now sitting nearly 60% higher over the past year and 17% up year to date, that bet is looking pretty savvy.
And while the road to Bitcoin's next all-time high might come with some bumps — the occasional dip, the regulatory tremor — the technical picture suggests bulls are once again in the driver's seat.
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