Bitcoin, the first and largest cryptocurrency by market capitalization, could be at the pinnacle of the next major movement, with all eyes at a critical technical signal marking the beginning of the next leg higher.
According to Crypto analyst Ali, Bitcoin's market value is approaching a golden cross on a 30-day simple moving average (SMA).
“Looking at the golden cross between the MVRV ratio and its 30-day SMA, we could mark the beginning of the next leg of Bitcoin (BTC).” Ali wrote in a tweet.
Monitor the golden cross between the MVRV ratio and its 30-day SMA. This allows the next leg of #bitcoin $btc to begin. pic.twitter.com/tpbrqa6ko2
– Ali (@Ali_Charts) June 28, 2025
Golden Cross occurs when short-term moving averages cross beyond the long-term, often showing potential bullish momentum.
The MVRV ratio measures whether Bitcoin is overvalued or undervalued based on the average price the coin was acquired. Golden Cross in this context may indicate that BTC holders are in profitable territory.
However, like the crypto market, there is no failsafe. Traders and investors should be keeping an eye on the next few days to see if the Golden Cross is confirmed and if Bitcoin will eventually break out of current range.
Bitcoin currently being merged
Bitcoin will continue in the $100,000-110,000 range as profits slow and activity measures decrease. At the time of writing, Bitcoin had risen 0.8% to $108,179 over the past 24 hours.
Bitcoin prices have rebounded to the $100,000-$110,000 level, but symptoms of reduced profitability and delayed chain activity are becoming more prominent. These trends are typical of choppy consolidation periods where volatility decreases and investors' profits decrease.
Until profitability and activity metrics improve, the chances of the new all-time breakout remain low. For the time being, the market appears to be compiling its previous profits while waiting for new momentum and demand to emerge.
