Key Notes
- Crypto analysts highlight the significance of Bitcoin’s 50-day SMA crossing above its 200-day SMA.
- Projections suggest potential price gains to $152,000โ$229,000.
- Additionally, patterns of higher lows and weakening resistance at $110,000 indicate potential for an upward breakout.
Following the Bitcoin price crash under $103,000 earlier this week amid the Iran-Israel conflict, BTC has recovered once again above the $105,000 support with a classic golden cross pattern formation. Moreover, following yesterdayโs dip, traders have also initiated fresh long bets, highlighting confidence in the upcoming market rally.
Bitcoin Price Eyes Rally to $229K With This Golden Cross Breakout
Renowned crypto analyst Trader Tardigrade has highlighted a key technical milestone for Bitcoin, as its 50-day Simple Moving Average (SMA) crossed above the 200-day SMA, forming a โGolden Cross.โ Historically, this indicator has preceded substantial price rallies for Bitcoin.
According to the analyst, during previous such instances of โGolden Crossโ formation, BTC price has rallied 49%, 125%, and 68%. Based on the same projections, BTC might register further gains from $152,000 at the lower end to $229,000 at the upper end, depending on market conditions.
#Bitcoin 50 SMA and 200 SMA formed a Golden Cross ๐ฅ
This signal has boosted $BTC by 49%, 125%, and 68% since 2023 whenever it has occurred.
If $BTC experiences its worst and best gains from this point, it could reach $152k and $229k.
These targets are reasonable given the recentโฆ pic.twitter.com/PGEinfxpHEโ Trader Tardigrade (@TATrader_Alan) June 14, 2025
Another popular analyst, Rekt Capital, has made an interesting observation that following the rejection to $110K, BTC price recoiled again. However, the magnitude of the dip a few weeks back was 8%, while this time, the Bitcoin price dipped by 5.8%. This hints at the formation of higher lows, which will lead to the resistance getting weaker and eventually could trigger a breakout above $110K.
Bitcoin has rejected from the final major Weekly resistance
But how strong will this rejection be?
Rejection from a few weeks ago caused a -8% dip
Thus far, this rejection caused a -5.8% dip
If this dip is shallower -> resistance getting weaker$BTC #Crypto #Bitcoin https://t.co/SCyCFDMt4D pic.twitter.com/miX0LoHeJs
โ Rekt Capital (@rektcapital) June 13, 2025
On the other hand, global macro investor and founder of Real Vision, Raoul Pal, said investors should not be disturbed by the current volatility and keep following the global M2 supply. Pal wrote:
โKeeps trucking along, doing its debasement thingโฆ if 89% of all BTCโs price action is explained by Global Liquidity, then by definition almost all โnewsโ and โnarrativeโ is noiseโ.
Keeps trucking along, doing its debasement thingโฆ if 89% of all BTC’s price action is explained by Global Liquidity then by definition almost all “news” and “narrative” is noise. Enjoy your weekendโฆ pic.twitter.com/Z16S9CB9Jy
โ Raoul Pal (@RaoulGMI) June 14, 2025
Traders Take Fresh Bitcoin Long Bets After Recent Dips
According to blockchain analytics firm Santiment, Bitcoin traders have predominantly taken long positions following the cryptocurrencyโs recent dip. This strategy has yielded modest returns as Bitcoinโs price has shown a slight recovery.
In contrast, Ethereum traders have shifted strategies, moving from long to short positions based on the assetโs immediate price movements. This reactive trading behavior highlights the differing sentiments between the Bitcoin and Ethereum markets.
๐ Bitcoin traders have mostly gone long on prices ever since yesterday’s dip bottomed out, and have been slightly rewarded. Meanwhile, Ethereum traders have shifted from longing to shorting based on whatever the asset’s price has done most recently.
Exchange funding rates areโฆ pic.twitter.com/gfMEemgFEE
โ Santiment (@santimentfeed) June 13, 2025
Santiment noted that exchange funding rates, which often swing from one extreme to another, are susceptible to liquidation events. The firm emphasized that the best entry points typically arise when the market sentiment is bearish.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
