Fidelity Digital Assets recently brought attention to a significant development: the potential emergence of another golden cross, a classic signal of upward momentum in technical analysis.

A golden cross occurs when a shorter-term moving average—typically the 50-day moving average (50DMA)—crosses above the longer-term 200-day moving average (200DMA). This pattern is generally interpreted as a bullish signal, suggesting a strengthening of upward price momentum.

Historically, this has proven to be a valuable indicator. On October 29, 2023, BTC last experienced a golden cross, with the price at that time sitting around $34,500. Following this crossover, Bitcoin rallied sharply to $60,900—representing an impressive 76.5% increase.

#Bitcoin’s last golden cross on October 29, 2023, pushed prices from $34.5k to $60.9k—an increase of 76.5%. Now, investors may be witnessing the start of a new market shift following yesterday’s reversal of the death cross and a closing price of $69.8k. pic.twitter.com/c1Ssr1RVIH

— Fidelity Digital Assets (@DigitalAssets) October 29, 2024

Now, signs are emerging that a similar pattern could be forming once again. The recent reversal of the death cross—the opposite pattern, where the 50DMA falls below the 200DMA—has caught the attention of analysts. Bitcoin closed yesterday at $69,800, indicating renewed strength and a potential return to bullish territory.

While the golden cross does not guarantee a continued rally, it is often used in conjunction with other indicators to gauge market sentiment. With Bitcoin now trading well above key moving averages and showing signs of technical strength, investors are closely watching for confirmation of another sustained move higher.

As the cryptocurrency market continues to mature, signals like the golden cross—especially when highlighted by major institutions like Fidelity—remain important tools for both institutional and retail investors navigating the volatility of digital assets.

The post Fidelity Highlights Bitcoin Golden Cross: Is a 70% Surge on the Horizon? appeared first on Coindoo.

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Filed under: Bitcoin - @ May 24, 2025 4:16 pm