Bitcoin Price: Golden Cross and Rising Institutional Interest Point to $100K Surge

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The market may feel slow right now, but there are great opportunities coming up as BTC leads the way. The recent panic could have caused a deeper downturn, but instead, the market is showing strength. On Crypto Banter’s The Sniper Trading Show, the analyst said that a “golden cross” has formed, a technical indicator that historically led up to major price increases. Previous occurrences resulted in Bitcoin prices jumping by 51% and 140%.

The analyst said that exciting things are happening with BTC–It just broke through the important $65,000 mark, and now it’s eyeing $70,000. If BTC can hold that, it might even reach $73,000 and potentially $90,000.

Last Friday, there was some market fear that caused a small dip, but it didn’t shake things up too much. This means the trend is still strong, especially since BTC is above the crucial 200-day moving average at $64,000. What’s interesting is that while smaller investors are selling, big players are buying more BTC. This usually happens when prices drop, signaling strong support.

A “Golden Cross” is also on the horizon, which is a bullish sign that could mean big gains for BTC. Typically, when BTC moves, altcoins follow a few weeks later, so keep an eye on them. BTC dominance is creeping up to 60%. When that shifts, a lot of money could flow into altcoins. Plus, the USDT dominance is nearing a “death cross,” which often signals a change in market direction.

Conclusion:

Currently, Bitcoin is trading above key support levels, supporting the ongoing bullish sentiment. However, the market remains volatile, and altcoins may lag until Bitcoin stabilizes. As we enter a new week, traders are encouraged to monitor Bitcoin closely, as its performance will significantly influence the broader market.