Bitcoin Tops $71,000 as Golden Cross Setup Takes Shape
Bitcoin’s move above $71,000 has revived expectations that the cryptocurrency may be shifting into a stronger medium-term trend. Technical traders are watching for a potential “golden cross,” which occurs when a shorter-term moving average rises above a longer-term gauge. The pattern is widely viewed as bullish, though it is a lagging signal and does not by itself ensure that gains will continue.
The latest advance has pushed Bitcoin through the $71,000 threshold and strengthened the setup for a possible golden cross, but the signal has not yet been confirmed. The next test is whether the token can hold above the breakout level, attract sustained buying and complete the moving-average crossover. A quick retreat below $71,000 would weaken the bullish case and raise the risk that the rally proves temporary.
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The history behind this eventBitcoin Eyes $85,000 as Traders Watch for a Golden Cross This Week
Bitcoin's “golden cross,” in which a short-term trend rises above a long-term trend, is considered a bullish signal. The market is focusing on CryptoQuant's MVRV ratio and the 200-day EMA. After two similar crosses in 2023, Bitcoin first gained about 90%, followed by a rally that delivered a cumulative gain of roughly 400%. The pattern is therefore seen as a clue to a potential trend reversal, though it does not guarantee further gains.
Cointelegraph reported on May 11, 2026, that BTC briefly climbed above $82,000 before retesting $80,000. CoinGlass recorded more than $400 million in crypto-market liquidations over 24 hours. Trader CrypNuevo forecast that Bitcoin could test $84,000–$85,000 this week. CryptoQuant's indicator is closing in on its first such cross in nearly three years, while tensions between the United States and Iran could still amplify short-term volatility.
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