$BTC1! Near touch and kiss rally pt. II?

Oct 12

The Bitcoin CME futures market recently saw its 50-day moving average (DMA) approach a “death cross” with the 200-day moving average, a bearish signal typically indicating potential downward momentum. As the two averages neared this crossover, market sentiment grew cautious, with some traders anticipating further declines. However, contrary to expectations, Bitcoin futures experienced a strong rally instead. The surprising upward movement defied the negative technical signal, fueled by renewed buying interest, positive macro factors, or increased institutional demand. This rally highlights Bitcoin’s resilience and unpredictable market dynamics, even when traditional bearish signals loom over the charts.