Bitcoin Surges Past $35K as 'Golden Cross' Looms, Fueling Bullish Sentiment
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Bitcoin's price has surged 30% in two weeks, crossing $35K for the first time since May 2022.
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Bitcoin is nearing a 'golden cross' technical indicator, with its 50-day moving average about to cross above its 200-day moving average.
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Golden crosses indicate strengthening bullish momentum, though their predictive power is debated.
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Previous golden crosses were followed by varying degrees of upside, including Bitcoin's rally to $69K after the September 2021 cross.
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Bullish factors include a potential US spot Bitcoin ETF, macro uncertainty, and April 2024's mining reward halving.