Bitcoin Struggles Near $96K Despite Golden Cross Signal

Bitcoin (BTC) is showing signs of weakness despite recently forming a golden cross—a bullish signal where the 50-day EMA crosses above the 200-day EMA. The cryptocurrency is trading slightly lower at $95,484 after briefly approaching $96,000, but the lack of follow-through and buying momentum is raising concerns.

Historically, golden crosses attract institutional attention and volume surges, yet this time, Bitcoin’s rally appears stalled. The RSI is cooling near 64, and trading volume has declined since April’s breakout, suggesting the market may be approaching an overbought condition. Without renewed momentum, BTC risks slipping back to the $91,000 support zone, a key level that traders should watch closely.

Technically, Bitcoin remains above its major moving averages—the 50, 100, and 200 EMAs—which is structurally positive. However, the absence of strong buying pressure post-breakout weakens the bullish case. The macroeconomic environment also plays a critical role, as ETF inflows have slowed and overall market sentiment remains cautious amid global uncertainty.

Bitcoin could continue to consolidate between $91,000 and $96,000 in the near term unless a new catalyst emerges. A breakdown below $91,000–$90,000 could invalidate the current bullish structure, while a breakout above $97,000 with strong volume might reignite upward momentum.

For now, Bitcoin investors should temper expectations, as the golden cross alone may not be enough to spark a sustained rally without broader market support.