Bitcoin has hit a new all-time high near $111,000 amid bullish technical signals like a golden cross and favorable macro trends. Discover expert insights, price forecasts, and what this rally means for the broader crypto market.<\/p>\n
Bitcoin\u2019s price<\/a> resurgence continues and finally hit new ATH<\/a> with the price hovering around $111,000 as of May 22 after crossing \u201cgolden cross\u201d formation at $106.889.<\/p>\n Check out the explanation of the latest BTC prices in this article until the end.<\/p>\n Bitcoin has previously responded positively<\/a> to golden cross formations. According to analyst Benjamin Cowen, past occurrences led to 45%-60% price increases. For example:<\/p>\n 1. In October 2023, BTC surged 45% following a golden cross, buoyed by optimism surrounding spot Bitcoin ETFs.<\/p>\n 2. In September 2021, a similar crossover preceded a 50% rally.<\/p>\n 3. Following the 2024 U.S. presidential election, with Donald Trump re-elected, BTC posted a 60%+ gain, attributed in part to expected policy shifts.<\/p>\n However, it\u2019s important to note that golden crosses are not infallible. In February 2020, just before the COVID-19 pandemic struck global markets, a golden cross was followed by a 62% crash\u2014highlighting the need to consider broader economic indicators.<\/p>\n As of mid-May 2025, Bitcoin\u2019s 50-day SMA is trending upward and approaching a cross above the 200-day SMA. While the setup leans bullish, analysts are warning of a possible short-term correction before a full-fledged breakout.<\/p>\n Bitcoin\u2019s Relative Strength Index (RSI) recently crossed above the overbought threshold of 70, often a precursor to pullbacks.<\/p>\n BTC could retest support levels around $115,400 to $120,000<\/a> before resuming its upward trend.<\/p>\n A bearish divergence between rising prices and falling RSI supports the case for a temporary dip.<\/p>\n Still, macro conditions appear favorable. Factors such as an expanding M2 money supply, easing U.S.-China trade tensions, and improved investor sentiment provide strong tailwinds.<\/p>\n Recent developments have added fuel to Bitcoin\u2019s rally:<\/p>\n 1. President Trump<\/a> has rolled back tariff threats, easing global trade tensions.<\/p>\n 2. Traditional equity markets, like the S&P 500 and Nasdaq, have reacted positively, with BTC following suit as a risk-on asset.<\/p>\n 3. Crypto liquidations have surged, with $233 million wiped out in the past 24 hours, over half from short positions\u2014indicating growing upward pressure.<\/p>\n Other cryptocurrencies are also riding the wave. Over the past month:<\/b><\/p>\n 1. Ethereum (ETH)<\/a> has climbed 58%,<\/p>\nGolden Crosses and Their Track Record<\/h2>\n
Current Technical Setup: Bullish but Cautious<\/h2>\n
Macro Tailwinds Support Bitcoin\u2019s Ascent<\/h2>\n