Bitcoin News: Golden Cross Signals Bullish Momentum as Bitcoin Surges Past $105,000

Bitcoin has recently registered a golden cross, a bullish technical indicator, as the 1-7 day UTXO crossed above the 7-30 day UTXO average. This development has coincided with a significant price surge, with Bitcoin climbing by 11.56% over the last 7 days. After hitting a low of $89,000 a week ago, Bitcoin has seen a strong upswing, reaching over $105,000 at the time of writing. The cryptocurrency community is optimistic about the potential for further gains as this technical pattern often precedes extended upward trends.

Bitcoin’s Latest Golden Cross Might Affect Your Holdings – Here’s How

Bitcoin has recently registered a golden cross, a bullish technical indicator, as the 1-7 day UTXO crossed above the 7-30 day UTXO average. This development has coincided with a significant price surge, with Bitcoin climbing by 11.56% over the last 7 days. After hitting a low of $89k a week ago, Bitcoin has seen a strong upswing, reaching over $105,000 at the time of writing. The cryptocurrency community is optimistic about potential short-term gains, driven by the activity of ultra-short-term investors. The overall sentiment remains bullish, with expectations of further price increases.

These US States Are Betting Big on Bitcoin: What it Means for Crypto Adoption in 2025

Several US states are preparing to integrate Bitcoin into their financial strategies, with seven states proposing the establishment of strategic BTC reserves by January 17, 2025. This move signifies the growing acceptance of Bitcoin as a legitimate asset and aligns with broader discussions about a federal BTC reserve, especially following President-elect Donald Trump's strong advocacy for cryptocurrency. Florida, for instance, has tentative plans to establish a strategic Bitcoin reserve in the first quarter of 2025, reflecting the state's interest in diversifying its financial assets through Bitcoin. This initiative is part of a larger trend of states actively integrating Bitcoin into their financial systems.

BTC Withdrawals Rise As Investors Draw $2 Billion from Exchanges within the Last Four Days

More than 20,000 BTC has been pulled from major digital asset trading platforms in four days. That is according to the latest data shared by senior crypto trader Ali Martinez. Data reported by Martinez showed that investors withdrew more than 20,000 Bitcoin worth over $2 billion within the last four days. The metrics hinted at an interesting trend suggesting that investors are deciding to buy and hold their tokens for the long term rather than preparing to sell. This trend indicates a steady decrease in Bitcoin’s exchange reserves as over 2 billion in BTC pulled off exchanges in the past.

Bitcoin Price Analysis: Is BTC Ready for a New All-Time High Above $108K?

Bitcoin’s $90K support region has demonstrated its strength, sparking a notable bullish surge. The price is now nearing its all-time high of $108K, where a breakout could ignite a short liquidation cascade, potentially pushing the asset into uncharted territory. The $90K support zone has proven to be a robust floor, holding the price steady in recent months and showcasing strong buyer confidence. This resurgence of buying interest has driven Bitcoin above the channel’s middle trendline, positioning it close to the ATH at $108K. That peak level represents a substantial resistance region with concentrated supply and heightened selling pressure. As Bitcoin approaches this critical threshold, short-term volatility is expected due to the ongoing battle between buyers and sellers.

Coinbase Joins Push For US Bitcoin Reserve To Strengthen Economy

Coinbase, a leading cryptocurrency exchange, has endorsed the concept of a US Bitcoin reserve, viewing it as a strategic move to bolster the country's financial future. CEO Brian Armstrong advocates for clear regulations and innovation to integrate Bitcoin into the national reserve, emphasizing its potential to enhance the US's competitive edge globally.