Bitcoin Rally Cools, But a Golden Cross Is Coming — SkimNews
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- Bitcoin fell 1.22% to $77,323 after August's Producer Price Index came in hotter than expected, dragging the S&P 500 down 0.59% and the Nasdaq nearly 1% as rate-hike fears resurfaced.
- Bitcoin's 50-day EMA is inches away from crossing above its 200-day EMA, with the golden cross projected to confirm around September 11—the first such bullish crossover since the November 2025 death cross.
- U.S. spot Bitcoin ETFs pulled in $3.8 billion in net inflows over the past three weeks, their strongest stretch of 2026, bringing total net assets to $101.3 billion even as the asset digested today's macro-driven pullback.
- Oil pushed above $100 a barrel amid ongoing U.S.-Iran tensions and Treasury yields spiked to multi-year highs, compounding inflation pressures ahead of Friday's CPI report and the Fed's September 15 meeting.
- Bitcoin's technical indicators remain constructive despite today's red candle: the ADX sits at 45.8 (well above the 25 trend threshold) and the RSI at 55.6—bullish but not overbought—with the Squeeze Momentum Indicator flashing compression ahead of a larger move.
- Nearly 85% of the top 100 crypto assets by market cap have lost ground in the past 24 hours, underscoring that the selloff was broad-based rather than Bitcoin-specific.
Why it matters: A golden cross is a lagging indicator that the article itself notes 'has occasionally reversed within weeks of forming,' so Friday's CPI print and the Fed's September 15 rate decision are likely to override any technical bullishness on the chart; the $3.8 billion in ETF inflows over three weeks signals institutional demand hasn't wavered, but with oil above $100 and yields at multi-year highs, inflation data will dictate whether the pattern confirms or fails.
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