Bitcoin's jump above $71,000 sets up bullish golden cross pattern
Bitcoin has surged past $71,000, moving above its 200-day simple moving average and signaling a potential bullish 'golden cross' pattern. While this suggests a shift in long-term market sentiment, analysts warn that a sustained trend is not yet guaranteed.
Why it matters
The movement of Bitcoin's price relative to long-term technical indicators is a key signal for institutional and retail investors regarding market cycles.
The potential crossover comes as bitcoin trades above $71,000, having gained more than 12% over the past week. The price is also slightly above its 200-day SMA.
The 200-day SMA tracks bitcoin’s average closing price over the previous 200 days and is widely used to gauge the market’s long-term trend. A sustained move above it can signal a shift from a bear market to a bull market, while a move below it can indicate the reverse.
Bitcoin had traded below its 200-day SMA since October 2025 , when its price was roughly $110,000, indicating its long-term downtrend.
The price typically rises before the crossover occurs, meaning traders who waited for confirmation may have missed part of the move. Golden crosses have occurred in February 2023, October 2023, October 2024 and April 2025, all of which preceded further rallies in bitcoin’s price.
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