Nasdaq Futures Flash Golden Cross at Record Highs—Bitcoin Bulls Take Notice

Tech stocks just handed crypto traders a bullish omen. Nasdaq futures carved out a golden cross this week as the index flirted with all-time highs—and Bitcoin’s price action is already mirroring the momentum.

Golden Cross vs. Death Cross: Why Traders Care

When the 50-day moving average punches above the 200-day, it’s like Wall Street’s version of a green light. The last time this happened in 2023, BTC ripped 40% in three weeks. Now? Options markets are pricing in a volatility spike.

Institutional FOMO Meets Crypto Liquidity

Nasdaq’s breakout coincides with Bitcoin ETFs sucking up $1.2B in inflows last week—because nothing screams ‘hedge against tech stocks’ like a speculative asset that moves in lockstep with them. Traders are now watching the $72K resistance level like hawks.

The Cynical Take

Ah yes, the golden cross—that infallible signal that’s only wrong 30% of the time. But when QE-addicted markets get this jittery, even technical voodoo can become a self-fulfilling prophecy. Buckle up.

Note that BTC's rally has stalled above $100,000 since it chalked out a golden cross on May 23. The moving average-based indicator has a mixed record of predicting price trends in the bitcoin market.