Bitcoin’s price surged to nearly $106,000 today, briefly touching $107,000 before retracting. Unlike stocks and gold, Bitcoin remained strong. Altcoins like Ethereum, Solana, XRP, BNB, and Dogecoin also saw gains ranging from 2-5%.
There is talk of a possible “golden cross” forming for Bitcoin, a bullish sign that could trigger a significant rally soon. Historically, when this indicator appeared, Bitcoin’s price surged by 121% and 68%. Many are watching to see if Bitcoin can reach $110K and if altcoins will outperform.
On the other hand, Analyst Benjamin Cowen has noticed a pattern where Bitcoin’s price drops significantly every time a “death cross” forms, indicating a potential downturn. This pattern occurred in Q3 of 2023, 2024, and even in Q2 of 2025. If Q3 of this year follows suit, Bitcoin may experience another dip.
Analyst Ali Martinez has raised concerns about Bitcoin losing strength as it faces resistance. Indicators like the RSI and MACD suggest weakening momentum despite the rising price. However, a recent $667 million inflow into Bitcoin ETFs in the U.S. on May 19 indicates renewed institutional interest in the cryptocurrency.
Market analysis by Cryptoquant suggests that Bitcoin’s current rebound appears more sustainable compared to previous rallies. Previous highs were often followed by quick crashes due to overheating. This time, the market conditions seem balanced, indicating a steady and healthy uptrend for Bitcoin without the risk of a sudden drop. This steady growth could lead Bitcoin to break its all-time high more sustainably.
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