Bitcoin News Today: Bitcoin's Rare Bullish MACD Crossover Seen Amid $150,000 Price Speculation

Bitcoin dominance recently triggered a rare bullish MACD (Moving Average Convergence Divergence) crossover on August 15, the first such event since August 2020 [1]. The signal appeared on a monthly chart and was highlighted by market analyst Mikybull Crypto, who noted that Bitcoin's dominance stood at 59.35% at the time. In technical trading, a bullish MACD crossover often indicates a shift in momentum and can signal the start of a positive trend. Analysts have interpreted this development as a sign that Bitcoin is outperforming other cryptocurrencies, though it does not guarantee immediate price gains [1].

The MACD signal has reignited speculation that Bitcoin could eventually rise toward $150,000. Some traders believe this could mark the beginning of another strong phase for BTC, particularly as Bitcoin’s market share has been gradually increasing over the past year [1]. Historical patterns suggest that similar technical setups have often preceded significant price moves in previous market cycles. However, it is important to note that the $150,000 price target is a forecast based on analysis of technical indicators and market trends, not a guaranteed outcome [1].

In parallel, market analyst JDK Analysis shared a long-term Bitcoin cycle chart during a discussion with trader Peter Brandt, highlighting the potential for Bitcoin to be entering a late-stage cycle [1]. While the chart did not directly link the MACD signal to a price target, it emphasized the importance of recognizing potential turning points in the market. The “Peter Top,” a term used to describe the peak of a cycle, has become a point of discussion among traders who are watching for signs that Bitcoin may be approaching a new high.

The U.S. Treasury also played a role in shaping the broader market environment. A recent statement from Treasury official Scott Bessent confirmed that the government would not be purchasing Bitcoin for its Strategic Reserve but would continue to expand its holdings through assets seized in criminal and regulatory actions [1]. Additionally, Bessent announced that the Treasury would cease selling Bitcoin from its holdings, a move seen as reducing potential selling pressure and supporting a more bullish outlook for BTC. This policy shift, combined with the MACD signal and ongoing cycle analysis, has created a favorable environment for traders to consider long-term price potential.

Bitcoin’s price has already reached a record above $124,000, though it has since retreated to around $117,689 as of the latest data [1]. Analysts note that while the technical and policy backdrop supports higher prices, the market still faces uncertainties. No single indicator, including the MACD, can fully predict future price movements. Nevertheless, the convergence of these factors—market consolidation, a rare technical signal, and evolving policy—has led some to believe that Bitcoin may be on a path toward a new all-time high.

Source:

[1] CoinMarketCap, “Most Bullish Bitcoin Dominance MACD Trigger Spotted In 5 Years, BTC Price To $150,000?” https://coinmarketcap.com/community/articles/68a051e6f5a5630053b1189b/

[2] MLQ.ai, “Stocks,” https://mlq.ai/news/