Foreign media reports that Bitcoin fell back after concerns about macro inflation intensified, failing to continue the upward trend seen last week when it surpassed $80,000. However, on a longer-term perspective, market attention is shifting towards a technical signal that is nearly forming: the 50-day moving average is approaching a crossover above the 200-day moving average, commonly referred to as a "golden cross."
Tumbled back to $77,300 within the day
On Thursday, U.S. stocks and crypto assets both weakened. Reports mentioned that the U.S. PPI in August was higher than expected, which renewed concerns in the market about the Federal Reserve's continued tightening stance. Meanwhile, oil prices rose above $100 per barrel amid tensions between the United States and Iran, and U.S. Treasury yields also reached multi-year highs, putting pressure on risk assets overall.
Bitcoin opened at $78,282 on the day, rose to $78,526 at one point during trading, and then fell back to a low of $76,651. At the time of publication, BTC was trading at $77,323, representing a daily decline of 1.22%.
This means that Bitcoin has temporarily given back some of the gains it made after breaking through $80,000 last week. However, if we look at a longer time frame, its price is still significantly higher than the low of nearly $64,000 in August, so the overall rebound trend has not been completely disrupted.
Golden cross may appear in the near future.
The article states that currently, the 50-day EMA is still below the 200-day EMA, but the gap between the two has significantly narrowed. If there is no further significant decline in the short term, a crossover could be confirmed around September 11th. If this pattern holds true, it would be the first time since the "death crossover" in November 2025 that Bitcoin has formed a golden crossover again.
The report also cited other technical indicators, stating that the Trend Strength Indicator ADX is at 45.8, which is above the common 25 threshold; the Relative Strength Index RSI is at 55.6, still in a relatively strong range and not yet in a state of obvious overheating. Based on this, the article concludes that although the recent upward trend has slowed down, it has not completely ended.
ETF Funds are still flowing in.
Compared to single-day corrections, the article emphasizes more on the continuous inflow of institutional funds. In the past three weeks, the net inflow of spot Bitcoin in the United States ETF amounted to $3.8 billion, marking the strongest inflow period since 2026, with total net assets reaching $101.3 billion.
However, the article also points out that the golden cross itself is a lagging indicator, based on historical price data, and in the past, it has also become ineffective within a few weeks of its formation. In the short term, the next move of Bitcoin is still more likely to depend on the upcoming US CPI data and the policy signals released by the Federal Reserve at its meeting on September 15th, rather than just whether the moving averages cross each other.
