Bitcoin Confirms Golden Cross: Will BTC Hit $100k Next?

Bitcoin has officially confirmed a golden cross for the first time since late last year. This happens when the fifty day moving average crosses above the two hundred day moving average. Traders follow this signal closely because past occurrences often kicked off major market rallies.

Looking at the bigger picture, spot exchange traded funds are seeing strong demand with nearly three point eight billion dollars in recent inflows. While this momentum is positive, Bitcoin still needs to break past tough resistance sitting between seventy nine thousand and eighty one thousand dollars.

Macro factors also play a big role in the current price action. Recent comments from Federal Reserve officials point to possible interest rate changes, while recent jobs data keeps traders cautious. Watch for a clean break above current resistance levels to see if the market can build enough strength to target one hundred thousand dollars next.