As Bitcoin Golden Cross Forms, Will BTC Price Tag $113,000?

Analyst Benjamin Cohen reports a Golden Cross on Bitcoin's chart, signaling potential long-term bullish momentum amid a new all-time high. Bitcoin marked a significant technical and price milestone on Thursday, trading above $111,800 after rebounding from a pullback to around $106,000. The recovery followed a breakout to $109,800 on Wednesday, which had already surpassed the previous all-time high.  Today’s Bitcoin price of $111,048 represents a continuation of strong upward momentum. Amid this positive momentum, analysts are now speculating on the next possible moves based on technical patterns. Technical Breakout Signals Golden Cross Pattern For instance, a daily candlestick chart shared by Benjamin Cohen, founder of Into The Cryptoverse, highlighted a Golden Cross formation, which occurred earlier today. This event, where the 50-day moving average crosses above the 200-day moving average, is widely recognized as a signal of potential long-term bullish momentum. The chart also shows a consistent pattern of higher highs and higher lows, reinforcing bullish sentiment. The recent surge aligns with strong breakout candles, adding weight to the bullish pattern. Additionally, a horizontal resistance trendline drawn from the December 2024 highs sets a key resistance level at approximately $113,362.69.  This area has acted as a barrier during a previous attempt in January, when price action failed to break through. The proximity of the current price to this level signals a potential test of the supply zone. Veteran Trader Tracks Continuation Patterns Meanwhile, veteran trader Peter Brandt weighed in on Bitcoin's performance following the May 21 breakout above $109,000. In his chart analysis shared on X, Brandt identified several continuation patterns, including a symmetrical triangle, a retest of a double top, and a head-and-shoulders formation visible on the weekly chart. Notably, his analysis included a breakout from a bull flag pattern. Support zones at $77,041 and $81,024 served as key price floors during the recent consolidation phase.  These formations contributed to Bitcoin’s momentum and supported the breakout to the new highs observed this week. Brandt also referenced a possible price range between $125,000 and $150,000 by the end of August, though he clarified the projection was speculative. Capital Inflow Slows as Bitcoin Matures Elsewhere, analytics firm Glassnode reported that Bitcoin’s realized capitalization has been rising at a decelerating pace as the asset matures. The chart shared tracks the value of each coin based on its last on-chain movement.  According to the data, realized cap jumped from $1 million to $1 billion between 2011 and 2013, then to $10 billion by November 2013, and reached $100 billion by May 2017. However, it has taken nearly six years for realized cap to approach the $1 trillion mark in 2025. This gradual growth reflects a shift from early speculative surges to broader, more capital-intensive adoption.