Golden Cross Looming for Bitcoin as Price Pulls Back

Bitcoin's recent rally has cooled off, but a golden cross is on the horizon. The cryptocurrency fell by 1.22% to $77,323 today, unable to sustain its push above $80,000 from last week. This decline comes as broader markets sold off due to inflation fears, with the S&P 500 dropping 0.59% and the Nasdaq falling nearly 1%. Most top 100 cryptocurrencies by market cap have lost ground in the past 24 hours.

The golden cross is a bullish signal that occurs when the 50-day exponential moving average (EMA) crosses above the 200-day EMA. This crossover is projected to happen around September 11, marking the first time it has happened since November 2025's bearish crossover. The current setup is technically bearish, but the gap between the two EMAs has nearly closed.

Despite today's pullback, Bitcoin remains up sharply from its August lows near $64,000. The Average Directional Index (ADX) sits at 45.8, indicating a strong trend in place. The Relative Strength Index (RSI) is also comfortably in bullish territory without flashing overbought.

U.S. spot Bitcoin ETFs have seen their strongest inflows of the year, with $3.8 billion net inflows over the past three weeks and total assets reaching $101.3 billion. However, traders should not treat a golden cross as a guarantee, as it is a lagging indicator built on past price data.