Bitcoin holds key support levels despite a 1.22% daily decline, as technical patterns and record ETF inflows signal potential upside momentum ahead of upcoming CPI data.
Bitcoin is showing an imminent golden cross pattern supported by strong ADX and ETF inflows, suggesting bullish continuation despite a macro-driven pullback.
Bitcoin trades at $77,323, retreating 1.22% as hotter-than-expected PPI data triggers a broader market selloff. Despite macro headwinds, technical indicators suggest a bullish golden cross is imminent, supported by $3.8 billion in recent spot ETF inflows.
A golden cross occurs when a short-term moving average, such as the 50-day EMA, crosses above a long-term moving average, like the 200-day EMA, often signaling a shift toward a long-term bullish trend.