Bitcoin Tops $71,000, Raising Odds of Golden Cross

Bitcoin climbed above $71,000, boosting the chances of a so-called golden cross, a technical pattern often viewed as a long-term bullish signal.

CoinDesk reported on Aug. 20 that Bitcoin’s 50-day simple moving average stood at $63,976, while its 200-day moving average was $69,005. A golden cross forms when the 50-day average keeps rising and moves above the 200-day average.

Bitcoin had traded below its 200-day moving average since October 2025, extending a long-term downtrend, before recently breaking back above that level. Previous golden crosses in February 2023, October 2023, October 2024 and April 2025 were all followed by additional gains.

CoinDesk added that the latest advance could still amount to a temporary rebound rather than a trend reversal. If Bitcoin falls back below the 200-day moving average, expectations for a shift to an uptrend could fade.