Bitcoin has declined 12% over the past month and currently trades near $73,400, weighed down by higher-than-expected U.S. inflation, political shifts, and reduced appetite for risk assets.
The cryptocurrency may be approaching a technical milestone known as a golden cross on the three-day chart, according to analyst Merlijn The Trader. This pattern occurs when a shorter-term trend line crosses above a longer-term trend line, historically preceding strong rallies. A previous death cross appeared in December and preceded a crash to $60,000 months later.
Analyst Friedrich said Bitcoin requires a clean close above $75,600 to confirm a bullish shift, after which price could move toward $103,000. Without this confirmation, he cautioned that prices could fall to the $60,000–$65,000 range or lower. Analyst CRYPTO XLARGE noted that Bitcoin's largest historical opportunities often coincided with periods of uncertainty and correction.
Contrary signals from whale activity complicate the outlook. Large investors offloaded more than 34,000 bitcoin units in one week, worth approximately $2.6 billion, suggesting weakening conviction among major holders. Additionally, the amount of bitcoin stored on cryptocurrency exchanges has reached a two-week high of around 2.863 million coins, indicating some investors have moved funds from self-custody to centralized platforms, which can increase selling pressure.
