{"id":27378,"date":"2025-05-18T17:46:48","date_gmt":"2025-05-18T17:46:48","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=27378"},"modified":"2025-05-18T17:46:48","modified_gmt":"2025-05-18T17:46:48","slug":"bitcoin-nears-golden-cross-weeks-after-trapping-bears-as-u-s-debt-concerns-mount","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=27378","title":{"rendered":"Bitcoin Nears Golden Cross Weeks After ‘Trapping Bears’ as U.S. Debt Concerns Mount"},"content":{"rendered":"
\n

Bitcoin’s BTC price chart is echoing a bullish pattern that foreshadowed the late 2024 price surge from $70,000 to $100,000 amid mounting concerns over the sustainability of the U.S. debt.<\/p>\n

The leading cryptocurrency by market value appears on track to confirm a “golden cross” in the coming days, according to charting platform TradingView. The pattern occurs when the 50-day simple moving average (SMA) of prices crosses above the 200-day SMA to suggest that the short-term trend is outperforming the broader trend, with the potential to evolve into a major bull run.<\/p>\n

The moving average-based golden cross has a mixed record of predicting price trends. The impending one, however, is worth noting because it’s about to occur weeks after its ominous-sounding opposite, the death cross, trapped bears on the wrong side of the market.<\/p>\n

A similar pattern unfolded from August through September 2024, setting the stage for a convincing move above $70,000 in early November. Prices eventually set a record high above $109K in January this year.<\/p>\n

\"BTC's<\/p>\n

The chart on the left shows that BTC bottomed out at around $50,000 in early August last year as the 50-day SMA moved below the 200-day SMA to confirm the death cross.<\/p>\n

In other words, the death cross was a bear trap, much like the one in early April this year. Prices turned higher in subsequent weeks, eventually beginning a new uptrend after the appearance of the golden cross in late October 2024.<\/p>\n

The bullish sequence is being repeated since early April, and prices could begin the next leg higher following the confirmation of the golden cross in the coming days.<\/p>\n

Past performance does not guarantee future results, and technical patterns do not always deliver as expected. That said, macro factors seem aligned with the bullish technical setup.<\/p>\n

Moody’s amplifies U.S. debt concerns<\/h2>\n

On Friday, credit rating agency Moody’s downgraded the U.S. sovereign credit rating from the highest \u201dAaa\u201d to \u201dAa1\u201d, citing concerns<\/a> over the increasing national debt, which has now reached $36 trillion.<\/p>\n

The bond market has been pricing fiscal concerns for some time. Last week, CoinDesk detailed<\/a> how persistent elevated Treasury yields reflected expectations for continued fiscal splurge and sovereign risk premium, both bullish for bitcoin.<\/p>\n

Read: BTC Boom Likely as Bond Yields Surge<\/a><\/em><\/strong><\/p>\n

<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin’s BTC price chart is echoing a bullish pattern that foreshadowed the late 2024 price surge from $70,000 to $100,000 amid mounting concerns over the sustainability of the U.S. debt. The leading cryptocurrency by market value appears on track to confirm a “golden cross” in the coming days, according to charting platform TradingView. The pattern […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-27378","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27378"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27378\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}