Analysts believe Bitcoin may still have significant upside ahead, pointing out 
that a rare signal has appeared on a key valuation metric for the first time 
in roughly two years — and history suggests it could mark the start of a major 
price run. Related Reading: Shiba Inu Bullish Momentum Explodes As Buying 
Pressure Intensifies A Critical Level In Play At around $82,500, Bitcoin is 
bumping up against its 200-day moving average, a line that traders closely 
watch. Breaking above it could end months of downward pressure. Failing to 
hold it, analysts warn, could send prices sliding back toward $50,000. The 
stakes are high, and the outcome of this test may shape Bitcoin&#8217;s direction 
for months to come. The focus, though, goes beyond simple price charts. A 
metric called the Market Value to Realized Value ratio — or MVRV — is on the 
verge of printing what analysts call a golden cross, a crossover event where 
the ratio moves above its 200-day exponential moving average. CryptoQuant 
analyst CW8900 flagged the signal over the weekend, calling it a 
&#8220;representative trend reversal signal&#8221; and a bullish indicator. A golden cross 
between the $BTC MVRV Ratio and the 200D EMA line is imminent. This signal is 
a representative trend reversal signal and is a bullish indicator. A golden 
cross is about to occur again following the dead cross last August. Another 
bullish signal for $BTC is… pic.twitter.com/13z6HvNiGA — CW (@CW8900) May 10, 
2026 An earlier golden cross in late April — when the 30-day simple moving 
average of Bitcoin&#8217;s MVRV crossed above its 90-day equivalent — had already 
prompted the analyst to declare that Bitcoin had &#8220;completely turned to a 
bullish trend.&#8221; What Past Signals Showed The last time this specific MVRV 
crossover appeared was just after Bitcoin&#8217;s 2022 cycle low. What followed was 
a 90% price surge, from around $16,300 up to $31,000 in early 2023. A second 
occurrence in September 2023 preceded an even bigger move — a roughly 400% 
rally that eventually carried Bitcoin to its all-time high of $126,000 in 
October 2025. Those precedents are fueling optimism. Data from Glassnode adds 
another layer to the picture. The short-term holder cost basis — the average 
entry price for investors who have held Bitcoin for fewer than 155 days — 
shows a &#8220;heated&#8221; band at $92,000 and an &#8220;overheated&#8221; band at $104,000. Based 
on that data, Bitcoin has room to run before reaching historically stretched 
territory. Related Reading: Nearly 80% Of Bitcoin Supply Hasn’t Moved As Long- 
Term Holders Tighten Grip Analysts Signal A Bigger Move Ahead Multiple 
analysts are pointing to broader technical setups as well. Analyst Shib Spain 
noted that Bitcoin recently broke above a multi-month downtrend line on the 
weekly chart, a move reinforced by a bullish MACD crossover. &#8220;Bitcoin&#8217;s huge 
breakout is coming,&#8221; the analyst posted on X. Another analyst, known as 
Moustache, cited the Bitcoin market cap and its Relative Strength Index 
bouncing off multi-year support levels on the monthly chart. &#8220;Prices will go 
much, much higher,&#8221; the analyst wrote, adding that &#8220;something big&#8221; lies ahead. 
Featured image from Gemini, chart from TradingView

Bitcoin Bulls Awaken As Rare Golden Cross Signal Flashes On Charts

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Bitcoin Bulls Awaken As Rare Golden Cross Signal Flashes On Charts

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