Bitcoin (BTC), the world's largest cryptocurrency, has just triggered a rare and historic Golden Cross, signaling the start of another major bull run.
Bitcoin (BTC) price is expected to respond to the recent Golden Cross technical signal with a sharp but short-term pullback, according to a new crypto analysis.
This technical formation, which occurs when the 50-day simple moving average (SMA) crosses above the 100-day SMA, has mostly preceded explosive price surges in the past. However, according to market expert Kyle Chasse, this time the market is expected to react with a 10-90% price dip.
"Golden Cross on the Bitcoin chart, which usually signals the beginning of some of the most dramatic and sustained rallies, now also predicts a 10-15% price pullback, which will be followed by a rally to the $98,000 - $101,000 reload zone," said Chasse in a recent X post, formerly Twitter.
"Most importantly, this brief correction is not seen as a sign of weakness but rather a strategic buying opportunity—a 'flash sale' on Bitcoin."
According to the analyst, a Golden Cross in 2016 was followed by a 139% BTC price climb. The same pattern appeared in the 2017 bull market, triggering an unprecedented 2,200% explosion that defined one of the most powerful BTC rallies.
Later, in 2020, Bitcoin surged over 1,190% after a Golden Cross emerged, fueling a rise to its former all-time high of around $69,000. Now, with the flagship cryptocurrency hovering in the six-figure territory, Chasse suggests that the current Golden Cross may not follow the familiar script of past bull markets.
"After the Golden Cross, the price is expected to drop by 10-15%, setting the stage for a new rally targeting the $98,000 - $101,000 range, which is the reload zone for the final blastoff to $320,000."
During Bitcoin-led corrections, alternative cryptocurrencies tend to suffer more severe declines. As a result, Chasse expects altcoins to shed 30-40% of their value in the coming dip.
