Catenaa, Wednesday, May 21, 2025-Bitcoin hovered near $102,750 Monday, shedding 4% on the day as traders brace for a potential golden cross, a bullish chart pattern where the 50-day moving average crosses above the 200-day. Analysts see the setup as a long-term buy signal, pointing to similar conditions in 2023 before Bitcoin surged past $100,000.
Amid heightened volatility, macroeconomic factors are sharpening investor focus.
Moody’s recent downgrade of the US sovereign credit outlook and a ballooning national debt—now over $36 trillion—have reinforced Bitcoin’s role as a hedge against fiscal instability. Climbing Treasury yields are compounding concerns, pushing investors toward decentralized assets.
Still, short-term signals remain bearish. Bitcoin broke below its 50-EMA on the 2-hour chart, weakening its near-term technical posture. Key support now lies at $102,750, with further downside seen at $100,782 and $99,188. A reclaim of $103,698 would be required to restore upward momentum, analysts said.
Momentum indicators, including the MACD, are flashing red, with widening signal lines and deepening histogram bars pointing to sustained selling pressure.
Elsewhere, authorities in Australia seized 25 Bitcoin and a mansion linked to a 2013 exchange hack, underscoring law enforcement’s growing ability to trace crypto flows. Though no theft charges were filed, the forfeiture under the Proceeds of Crime Act signals rising regulatory maturity.
Meanwhile, Dubai’s favorable crypto stance continues to bolster sentiment. Ripple’s top executive recently praised the emirate’s clarity in regulation, calling it a model for blockchain adoption.
Retail investors are also chasing yield in altcoins like BTC Bull Token, which is nearing its $6.84 million presale cap, driven by its 71% staking yield and no-lockup model.
