Will Bitcoin’s Golden Cross Save It or Just Fool Us? 🎭

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In the quiet, almost somber world of markets, there is talk of a golden cross on Bitcoin’s daily chart. A pattern as predictable as a winter thaw, yet none the wiser whether it will bring warmth or merely the flood. The 50-day Simple Moving Average has begun its upward trek — a sign, or perhaps just a misplaced spring in its step. Who can tell? 🤔

A golden cross, they call it—when the short-term crossing above the long-term, as if two rivals deciding who shall rule the land. The 50-day SMA has made its move, in anticipation of the 200-day, hinting at bullish dreams. But remember, dear reader, markets are as trustworthy as a drunk preacher — they promise much and deliver unpredictability. 📉

Should this golden cross prove genuine, one might expect Bitcoin to rally, aiming once again at the highs of yesteryear—perhaps even pushing toward the elusive all-time high. Or perhaps, it will just teeter on the edge, like a politician dodging responsibility, and drift sideways, with traders taking profits like a family eating the last of the jam. Then again, the whole affair might be a fleeting illusion—gone as quickly as it appeared, leaving nothing but disappointment and a few confused investors. 🤷‍♂️

Bitcoin Price Follies

The early Monday market was a rollercoaster, with Bitcoin tumbling from a high of $107,137 to a low of $102,105—such a graceful descent for a coin that sometimes prefers to dance rather than stand still. Currently, it languishes at $103,150, down 1.07% in 24 hours, trading volume roaring like a crowd at a carnival—$65.98 billion, to be precise. Traders appear eager to profit from the chaos, as if it’s a game of musical chairs. 🎶

Glassnode whispers secrets — $106,600 remains a sacred level, a resistance as stubborn as a mule. There, 31,000 BTC sit patiently, unshaken by the hype, like old men in a park watching the world go by. A tweet from Glassnode warns: “BTC’s surge is just a whisper below $106,600; the supply is as fixed as an old family heirloom. The holders haven’t moved an inch, playing the waiting game with a patience only patience itself can envy.” 🔍

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2025-05-19 18:23