Nasdaq Futures Flash Golden Cross at Record Highs—Bitcoin Bulls Take Notice
Wall Street's favorite technical indicator just triggered—and crypto traders are leaning in.
The golden cross that matters
Nasdaq futures just printed a golden cross (50-day MA crossing above 200-day MA) near all-time highs. Textbook bullish signal. The last time this happened? January 2023—right before a 27% tech rally.
Bitcoin's correlation play
Risk assets move together—even when purists pretend they don't. With macro liquidity improving and the Fed's balance sheet creeping back up, BTC's behaving like a beta play on Nasdaq again. Funny how that works.
The cynical take
Gold crosses get all the press—nobody talks about the 'death crosses' that fail 60% of the time. But hey, markets run on narratives, not math. Just ask the quants who missed the last crypto rally.
One thing's clear: When the market's this greedy, even the TA skeptics start drawing lines on charts.
A golden cross is a sign that the short-term trend is now outperforming the broader momentum with the potential to evolve into a major uptrend.
According to an analysis by CNBC, the golden cross is a reliable indicator for the futures, with the index rising over 70% of the time after one appears. The index surged 34% to 18,328 in a year after the occurrence of the previous golden cross on March 13, 2023.
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.
