Golden Cross Sparks Hopes for Bitcoin Near $80K
Bitcoin has created its first golden cross in over six months as it hovers near $80,000. A golden cross occurs when a shorter-term moving average surpasses a longer-term one, and this event is considered bullish by many analysts.
The crossover occurred after an extended period where the 50-day moving average remained below the 200-day average, according to data from Jason Capul of Seeking Alpha. The BTC-USD price is currently hovering near $80,000.