After retreating sharply earlier this year, Bitcoin has surged back above its previous highs and is signaling a potential new leg up. This bullish inflection point is driven by the ‘golden cross’ – a technical pattern often seen as a market turning point where short-term moving averages overtake longer-term ones. Bitcoin’s recent movement aligns with broader market trends, indicating an increased participation from institutional investors and traders. 50-day simple moving average now sits above the 200-day level, forming this notable technical formation. Traders and investors alike are watching the positive signals closely as Bitcoin approaches $111,000 and volumes increase, signaling a possible trend shift.