Bitcoin Dips 8% Post Golden Cross, Eyes $150,000 Target

Bitcoin has once again exhibited a historically bullish signal, known as the golden cross, as traders and analysts set their sights on the $150,000 mark. Currently trading at approximately $105,597, Bitcoin has experienced a slight pullback following its latest golden cross. This technical pattern occurs when the 50-day moving average crosses above the 200-day moving average, typically signaling the beginning of a long-term uptrend.

Chain Mind, a prominent crypto analyst, notes that this pullback is not unusual and mirrors a similar pattern observed in late 2024. During that period, Bitcoin dropped by 10% right after the golden cross, only to surge over 60% in the following two months. The recent 8% decline post-cross appears to follow the same trajectory. Chain Mind emphasizes the importance of patience, as history suggests that the pattern often begins with a dip before a broader rally unfolds. According to Chain Mind, the setup remains intact, and the $150,000 target by year-end remains realistic.

Reinforcing the bullish outlook is Bitcoin’s ability to stay well above its 200-day moving average, which currently sits near $94,700. This level acts as critical long-term support. As long as Bitcoin holds above it, the price prediction remains bullish. Additionally, there has been a rise in Bitcoin dominance, which has hit a three-year high. This indicates that investors are rotating capital out of altcoins and back into Bitcoin, viewing it as a safer store of value amid broader market uncertainty.

Several signs of strength support this bullish bias. Bitcoin’s dominance is rising, while altcoins are losing ground. Ethereum (ETH) is struggling to hold above $2,500, and altcoins like SOL and ADA have broken key support levels. Long-term holders continue to sit on their Bitcoin instead of selling, pointing to sustained institutional interest. Firms have been buying large amounts of Bitcoin, and spot ETFs continue to see inflows, despite price volatility.

One of the clearest signs that Bitcoin remains in favor is the behavior of large investors, also known as “whales.” On-chain data shows a significant portion of the Bitcoin supply hasn’t moved in months, reinforcing the idea that long-term holders aren’t shaken. Altcoins, on the other hand, are under pressure. Many are not just lagging Bitcoin; they’re also falling against the U.S. dollar. Until sentiment improves and key percentages, such as ETH/BTC or SOL/BTC, begin trending higher, Bitcoin will continue to dominate.

In summary, the golden cross pattern is historically bullish, even in the face of short-term dips. Bitcoin holding above $94,700 supports the uptrend. Rising dominance and institutional inflows point to a potential surge. For traders and investors alike, this is a classic case of “zooming out.” The short-term noise may rattle nerves, but structurally, the setup for a powerful Bitcoin rally toward $150,000 appears intact.