Bitcoin’s price has been rising in recent weeks.
The cryptocurrency recently made a bullish crossover, with its 20-day moving average crossing above its 50-day moving average.
The digital currency, however, could fall back in value if investors grow concerned about the economy.
Bitcoin (CRYPTO: BTC) has been picking up steam in recent weeks. It’s back up to where it was around a few months ago, and it may not be long before it hits the $100,000 mark again — the last time it breached that was in early February. It only needs to rise another 15% to hit a new all-time high. And after a recent bullish development, it may only be a matter of time before that happens.
Crypto investors often look at charts to uncover signs that Bitcoin may be heading higher, and there could be a glaring one right now. The digital currency has been taking off again, and entering trading on Monday, it hit highs north of $95,000. That puts it back up to around the levels it was at in February, before concerns about tariffs and the economy weighed on its valuation.
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The recent trend has been so strong that Bitcoin’s 20-day moving average (MA) has crossed above its longer 50-day MA. That’s a positive signal to the market that optimism is picking up. And for technical analysts who track charts and look for these types of crossovers, it can be a catalyst that fuels Bitcoin’s valuation even higher in the weeks and months ahead.
This recent crossover is a promising development for the crypto world, but it also comes at a time when the market appears to be less concerned about tariffs, with President Trump announcing a pause on most global tariffs. But investors only need to look back to early April, when Bitcoin fell to less than $75,000 due to fears relating to the state of the global economy, as a reminder as to how quickly its progress can get derailed.
On a year-to-date basis, Bitcoin is still only up by just a few percentage points. That’s a far cry from last year, when its value rose by 119%. Enthusiasm was high entering 2025 on the hope that President Trump would enact crypto-friendly policies that would help Bitcoin and other digital currencies soar in value.
And while there may be potential catalysts ahead, such as setting up a reserve that includes Bitcoin, there is also a growing risk that a recession could be coming this year. So while investors may want to believe that Bitcoin can be a safe investment to hold amid such turmoil and even be a “digital gold,” that hasn’t been the case this year. A downturn in the economy could lead to a decline in Bitcoin’s value.
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