Bitcoin Just Flashed a Second, Stronger Golden Cross: Here's What That Means

Key Summary

Bitcoin traded around $86,000 on Monday, roughly $1,200 below its swing high of $87,354, which has capped the rally. A second, stronger "golden cross" has emerged on the daily chart, suggesting a bullish trend is built to last. The golden cross occurs when the 50-day moving average crosses above the 200-day moving average, a classic bullish signal in the cryptocurrency market. This development, combined with macroeconomic winds turning in favor of Bitcoin, has investors optimistic about the trend's potential.