Fidelity: Bitcoin's Death Cross Might Flip Golden

Bitcoin's Death Cross Could Flip Golden, Predicts Fidelity's Crypto Expert

Chris Kuiper, Vice President of Research at Fidelity Digital Assets, has made a bold prediction about Bitcoin's future price movement. He suggests that Bitcoin's current death cross could potentially transform into a golden cross if the cryptocurrency maintains its position above the critical $93,000 level.

Analyzing the Golden Cross Trend

Kuiper's research shows that Bitcoin's golden cross, active since April 7th, has already driven a 33% price increase. The previous golden cross resulted in a 13% price boost, and Fidelity's team is watching closely as the market appears poised for its next potential shift.

The October 2023 golden cross triggered an impressive 80% surge, with Bitcoin climbing from $35,000 to $61,000. Currently trading at $108,622 after a 2.6% 24-hour dip, Bitcoin recently set a new all-time high of $111,814 on Thursday.

Market Influences and Future Projections

Recent trade tensions between the U.S. and EU have caused Bitcoin to lose some of its recent gains. Earlier this month, Kuiper noted Bitcoin was in an "acceleration phase," with Fidelity viewing the $110,000 level as a potential foundation for another price surge.

Historically, only the November 2021 peak saw a failed second rally. This current rally differs as it's primarily fueled by steady ETF inflows, indicating strong institutional participation while retail investors remain largely inactive.