Bitcoin is approaching a Golden Cross, a pattern CoinDesk analyst James Van Straten notes often coincides with rallies in the weeks ahead of the cross. ChainCatcher data show both the 50-day moving average and the 200-day moving average are turning upward as the market nears the cross.

Van Straten highlighted that BTC did not break above the 200-day moving average in 2022, but the current market structure appears to be forming a new phase.

A Golden Cross is generally viewed as a medium- to long-term bullish signal, defined by the 50-day moving average crossing above the 200-day moving average. However, it is a lagging indicator used to confirm trend changes rather than forecast short-term moves.

Glassnode data show Bitcoin has historically risen multiple times before the 50-day moving average crosses above the 200-day moving average. BTC is now trading back near the 200-day moving average, signaling a clear departure from the 2022 market cycle.