Bitcoin
BTC$105,588.22
The price list reflects a bullish pattern that predicted a price surge in late 2024 from $70,000 to $100,000 in the event of concerns over US debt sustainability.
Market values from major cryptocurrencies are showing off well in the coming days to confirm the “golden cross,” according to charting platform TradingView. The pattern occurs when a simple 50-day moving average (SMA) is above the 200-day SMA, suggesting that short-term trends outweigh the broader trends, and could evolve into a major bull run.
Golden Cross on a moving average basis has a complex record that predicts price trends. But what’s imminent is about to happen a few weeks after the opposite of its ominous sound, the death cross, is trapped on the wrong side of the market.
A similar pattern unfolded from August to September 2024, setting the stage for a compelling move of over $70,000 in early November. The price ultimately reached a high of over $10,000 in January this year.
BTC price list: 2024 vs 2025. (TradingView/Coindesk)
The chart on the left shows that BTC bottomed at around $50,000 in early August last year as the 50-day SMA confirmed a death cross below the 200-day SMA.
In other words, the Cross of Death was a bear trap, just like it was from early April this year. Prices went up over the next few weeks, and after Golden Cross appeared in late October 2024, they finally launched a new uptrend.
The bullish sequence has been repeated since early April, and prices could potentially raise the next leg following confirmation of golden crosses in the coming days.
Past performance does not guarantee future results, and technical patterns may not always be delivered as expected. That said, the macro factors seem to match the bullish technical setup.
Moody’s amplifies US debt concerns
On Friday, credit rating agency Moody downgraded the US sovereign credit rating from the highest “AAA” to “AA1,” citing concerns over an increase in national debt, which is now at $36 trillion.
The bond market has been priced financial concerns for some time. Last week, Coindesk detailed how the Treasury will bring about a sustained rise, reflecting its continued splurge and its continued forecast for the Sovereign Risk Premium. Both are bitcoin bullish.
Read: BTC boom is likely to lead to a surge in bonds