Home›Crypto›Market Structure›Bitcoin rallies after golden cross forms above key mov…

Bitcoin rallies after golden cross forms above key moving averages

Bitcoin traded around $72,600 and rose more than 10% in 24 hours after rallying above $70,000 U.S.

Saturday, August 22, 2026 · Written up by our desk · Market Structure

Bitcoin has formed a bullish “golden cross” pattern, with its price above key long term trend levels ahead of Aug. 20, according to Yahoo Finance.

The 50-day simple moving average for BTC is currently about $63,976 U.S., after crossing above the 200-day simple moving average near $69,005 U.S., a setup often viewed as a long term momentum signal.

In afternoon trading, BTC was changing hands at roughly $72,600 U.S., its highest level in months, after trading below $65,000 U.S. for about six weeks.

Yahoo Finance also links the surge to a call from U.S. President Donald Trump for Congress to pass the Clarity Act, though it notes some analysts are warning the move could be a short term relief rally.

Latest closeBitcoin $84,310.25 ▼0.1%

More like this

Sources