Over the past month, bitcoin (BTC) has seen a modest price comeback. After struggling for several weeks below the $90,000 threshold, it has now climbed back above that mark and even neared the $100,000 briefly.
This price movement has rubbed off on the 30-day moving average (MA) of its Fear & Greed Index, which surpassed the 90-day MA. The last time this occurred was in May 2025.
Bitcoin Sees A Golden Cross
The 30-day MA is a technical indicator that provides insight into a crypto’s price volatility by tracking its average closing price over the past 30 days. The same principle applies to the 90-day moving average.
According to a chart that on-chain analyst MorenoDV shared on CryptoQuant, the 30-day MA recently attained 30.2%, while the 90-day average sat at 26.1%.
Whenever the 30-day MA surpasses the 90-day average, also known as the Golden Cross, it often indicates that BTC’s recent price movement is more bullish than its performance over the past three months. Ideally, one would assume that investors are becoming increasingly interested in the cryptocurrency to the point that they would buy it.
Market “Still Skeptical” Despite Bullish Trend
However, MorenoDV shared a different outlook, stating that the market is “still skeptical” despite the recent bullish shift.
“This is not euphoric behavior, it usually happens when the market is still skeptical, volatility remains elevated, and confidence is fragile (The key signal is not whether sentiment is fearful or greedy, but how it is changing relative to its own trend.),” he wrote.
He added that such golden crosses often occur after extended periods of market fear, as recorded on the Fear & Greed Index. MorenoDV also mentioned that BTC’s price often goes up in the following weeks.
Presently, BTC trades at $91,200, representing a 2% drop in the past 24 hours. It remains to be seen just how high the apex cryptocurrency can go in the near term. Still, the recent golden cross will likely bring bullish streaks if “the crossover aligns with higher lows in price and the absence of aggressive distribution.”