May 21, 2025
By Anjali Kochhar
Bitcoin (BTC) is currently trading around $105,000 to $106,000, showing modest gains over the past 24 hours. Behind this steady rise is a significant technical pattern known as the “golden cross,” which many analysts believe could signal strong bullish momentum for the world’s largest cryptocurrency in the coming weeks.
A golden cross happens when the 50-day moving average crosses above the 200-day moving average, historically a sign of sustained upward price movement. This technical setup is highly anticipated by traders, as it often marks the start of a new bull run or a continuation of positive momentum.
Shivam Thakral, CEO of BuyUcoin, India’s second longest-running digital asset exchange, shared his views on the situation:“Bitcoin is showing strong momentum and if the golden cross confirms, we may witness a sustained upward rally. These patterns often signal renewed investor confidence and can attract both retail and institutional players.”Thakral emphasised that this technical pattern could encourage more people to enter the market, boosting overall demand.
Supporting this optimism, Ryan Lee, Chief Analyst at Bitget Research, highlighted both the technical and macroeconomic drivers behind Bitcoin’s recent strength.
“Bitcoin could reach $112,000 to $180,000 by year-end,” Lee projected confidently. He pointed out that BTC’s price action shows bullish momentum building toward the $110,000 to $125,000 range, provided it can break resistance near $106,202 with strong trading volumes.
Lee also noted the importance of the golden cross in the current context: “This golden cross is forming just weeks after a failed death cross in April. Historically, such formations have triggered strong rallies. If macro tailwinds continue and ETF inflows remain steady, BTC is in a good position to break higher.”
Beyond technical signals, recent global developments have pushed Bitcoin and other cryptocurrencies into the spotlight as alternative investment options. Moody’s downgrade of the U.S. sovereign credit rating to Aa1 has increased interest in crypto assets as hedges against traditional fiat currency risks.
Lee explained:“BTC’s ability to hold above $103,000 amid volatility highlights the market’s shift toward crypto as a strategic reserve asset.”
Ethereum (ETH), Bitcoin’s closest competitor, has also been showing resilience, trading between $2,200 and $2,600. Analysts expect ETH could rise to between $3,900 and $6,900, especially if demand for ETH-based ETFs picks up and the upcoming Pectra upgrade successfully improves Ethereum’s scalability.
Despite the overall bullish outlook, both experts caution that short-term corrections remain possible. Overbought conditions and profit-taking by traders could lead to temporary dips, with Bitcoin possibly retracing to the $90,000–$95,000 zone and Ethereum seeing declines to around $1,800.
“Corrections are part of every bull run. What matters is the larger structure and long-term trajectory,” Shivam Thakral reminded investors. He advised that long-term holders should see dips as buying opportunities, while short-term traders need to exercise caution.
The convergence of strong technical setups, positive macro factors, and growing institutional interest suggests that Bitcoin and Ethereum could be on the verge of a significant upward move in the coming months. For investors, staying informed, exercising patience, and managing risks will be crucial as the market navigates this exciting phase.
About the author
Anjali Kochhar covers cryptocurrency and blockchain stories in India as well as globally. Having been in the field of media and journalism for over four years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.
