TL;DR

• Analysts anticipate a strong BTC rally, driven by bullish market signals and potential accumulation by large entities.
• On the other hand, high profitability among holders may suggest a short-term price correction.

BTC Explosive Rally Incoming?

The leading digital asset traded sideways over the past weekend, ranging from $66,500 to $67,500. However, the start of the new week offered a new resurgence, with BTC soaring well above $68,500.

Multiple analysts spotted the price increase, envisioning a much more exponential pump in the near future. The popular X user Mikybull Crypto claimed that BTC experienced a “golden cross” several hours ago. The trader noted that such a development was witnessed exactly one year ago and was followed by a massive rally. 

The so-called “golden cross” is a technical chart pattern that occurs when Bitcoin’s short moving average (often the 50-day) crosses above its long-term moving average (for example, the 200-day). This is considered a bullish signal, suggesting a positive sentiment spark in the market. The “golden cross” contrasts with the “death cross,” where the short-term average falls below the long-term, indicating bearish times.