'Golden Cross' Trap: Why Bitcoin's Rally to $81,280 Worries Analysts

Bitcoin entered the weekend with a local rally, settling around $81,280 after gaining around 4% over the past 24 hours. The main driver of market debate has been the "golden cross," a chart pattern in which the 50-day moving average crosses above the 200-day moving average.

For retail investors, this is traditionally a signal of the beginning of a global bull market. However, popular analyst Benjamin Cowen is urging caution against jumping to conclusions.

In his view, at $81,280, Bitcoin has entered a zone of historical uncertainty, where a classic liquidity trap could be hiding behind the appealing facade of a technical indicator, raising serious concerns among experts.

Why the current surge to $81,280 does not mean the bear market is over

While retail traders link the current rally to speculation surrounding future interest rates, the real intrigue is unfolding exclusively on the price chart.

Benjamin Cowen emphasizes that Bitcoin price declines during the formation of golden crosses are perfectly normal. This is precisely the scenario the market witnessed in the first half of September, when the asset experienced a local pullback.

A far more important and telling factor, according to the analyst, is how the current rebound to $81,280 ultimately plays out. This move divides historical precedents into two opposing camps.