Foreign media reported that Bitcoin retreated after macroeconomic inflation concerns intensified, failing to sustain its rally that pushed it above $80,000 last week. However, from a longer-term perspective, market attention is shifting toward an emerging technical signal: the 50-day exponential moving average is nearing a crossover above the 200-day exponential moving average, commonly known as the "golden cross."
Dropped to $77,300 intraday
On Thursday, U.S. stocks and crypto assets moved lower in tandem. Reports noted that the U.S. August PPI came in higher than expected, reigniting market concerns that the Federal Reserve will maintain a tight monetary stance. Meanwhile, oil prices rose above $100 per barrel amid heightened tensions between the U.S. and Iran, and U.S. Treasury yields climbed to multi-year highs, putting broad pressure on risk assets.
Bitcoin opened today at $78,282, rose to a high of $78,526 during trading, then declined to a low of $76,651. At the time of reporting, BTC was trading at $77,323, down 1.22% for the day.
This means Bitcoin has temporarily retraced some of its gains following last week’s breakout above $80,000. However, viewed over a longer timeframe, its price remains significantly higher than the low of around $64,000 in August, and the overall rebound trend has not been fully reversed.
A golden cross may occur in the coming days.
The article states that the 50-day EMA is still below the 200-day EMA, but the gap between them has narrowed significantly; if there is no further sharp decline in the short term, the crossover may be confirmed around September 11. If this pattern materializes, it would mark Bitcoin’s first golden cross since the “death cross” occurred in November 2025.
The report also cited other technical indicators: the Average Directional Index (ADX) stood at 45.8, above the common threshold of 25; the Relative Strength Index (RSI) was at 55.6, remaining in the moderately strong zone without entering an overtly overbought state. Based on this, the article concluded that while the recent upward trend has slowed, it has not yet fully ended.
ETF funds continue to flow in
Compared to a single-day pullback, the article emphasizes the sustained inflow of institutional funds. Over the past three weeks, U.S. spot Bitcoin ETFs have recorded a combined net inflow of $3.8 billion, marking the strongest inflow period since 2026, with total assets under management reaching $101.3 billion.
However, the article also notes that the golden cross is a lagging indicator based on historical price data and has previously failed within weeks of formation. In the short term, Bitcoin’s next move is more likely to be influenced by the upcoming U.S. CPI data and the policy signals from the Federal Reserve’s meeting on September 15, rather than merely whether the moving averages have crossed.