Bitcoin’s daily golden cross disappears as price retreats to $77,438
Golden cross fades
Bitcoin’s price fell to about $77,438 on Friday evening, ending a brief period when the 50‑day exponential moving average (EMA) was above the 200‑day EMA. The short‑term average slipped back below the long‑term line, removing the daily “golden cross” signal that had appeared earlier in the session.
Key numbers
- Current price: $77,438 (up 1.19% for the day)
- Intraday high: $79,837
- Intraday low: $76,040
- 50‑day EMA crossed above 200‑day EMA, then fell back below
- 4‑hour chart still shows a golden cross (50‑period EMA above 200‑period EMA)
- Average Directional Index (ADX) on daily chart: 45 (strong trend)
- Relative Strength Index (RSI) on daily chart: 55.5 (neutral‑to‑bullish)
- 4‑hour RSI: 43.3 (below 50, indicating weaker momentum)
- 4‑hour ADX: 25.1 (just above trend‑noise threshold)
Technical indicators
The daily ADX of 45 suggests a clear trend, even though the EMA crossover changed. The RSI of 55.5 places Bitcoin on the bullish side of neutral. On the 4‑hour chart the trend is weaker, with ADX barely above 25 and RSI below 50, indicating reduced momentum.
Market backdrop
U.S. consumer‑price data showed a core inflation rise of 0.3% for the month, higher than the 0.2% analysts expected. After the data, the CME FedWatch tool raised the probability of a 25‑basis‑point rate hike at the next Federal Reserve meeting from about 69% to 86.5%.
Why it matters
A higher chance of a rate hike can make investors move away from riskier assets such as Bitcoin. The loss of the daily golden cross removes a bullish chart signal that some traders watch for potential upside.
What could happen next
If the Fed raises rates next week, Bitcoin could face additional selling pressure. However, the daily ADX still shows a strong trend, and the 4‑hour chart retains its golden cross, leaving the short‑term direction uncertain.
