Bitcoin Just Flashed a Second, Stronger Golden Cross: Here's What That Means — SkimNews
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- Bitcoin traded around $86,100 on Monday (up 1.14% in 24 hours) with a $1.73 trillion market cap, still capped by its $87,354 swing high.
- The 100-day EMA crossed above the 200-day EMA, forming a second golden cross after the 50/200 cross in mid-September — harder to manufacture because it requires sustained price elevation over months.
- Friday's September jobs report showed only 29,000 positions added (roughly a third of economist expectations), unemployment ticking up to 4.2%, and July revised to a 10,000-job loss with August cut to 132,000.
- October Fed rate hike odds fell from 64% to roughly 16-22% after the weak jobs report, flipping the macro picture in Bitcoin's favor ahead of the Fed's September 16 rate cut to 3.75%-4.00%.
- U.S. spot bitcoin ETFs recorded $189.84 million in net inflows on the latest daily reading, bringing total net assets to $101.1 billion.
- Momentum indicators show RSI at 64.7 (hot but not overbought) and ADX at 43.4 (strong trend), while the crypto Fear & Greed Index sits at 68 in "greed" territory.
- Upcoming catalysts include Fed September meeting minutes (October 7), September CPI (October 14), and the next FOMC meeting (October 27-28).
Why it matters: The 100/200 EMA cross is a stronger confirmation than the prior 50/200 cross because it requires months of sustained price action rather than a sharp bounce, meaning Bitcoin has rebuilt its medium-term trend off July's sub-$60,000 lows. Combined with dovish Fed repricing (October hike odds cut from 64% to ~16-22% after Friday's 29,000-job report) and $189.84 million in ETF inflows, BTC has both a confirmed chart structure and a friendlier macro backdrop heading into the October 27-28 meeting.
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