Bitcoin Just Flashed a Second, Stronger Golden Cross: Here's What That Means
Summary
Bitcoin rose 1.14% to about $86,100 after a weak U.S. jobs report reduced market expectations of another Federal Reserve rate hike. The report showed 29,000 jobs added in September, rising unemployment and downward revisions to prior months. U.S. spot bitcoin ETFs also recorded $189.84 million in net inflows. Technical indicators point to strong momentum: the 50-day and 100-day exponential moving averages have crossed above the 200-day average, though these lagging signals confirm past moves rather than predict future gains. Bitcoin remains below resistance near $87,354. Traders are watching the Fed’s meeting minutes and upcoming inflation data.
