[Analyst: Bitcoin May Be Approaching a 'Golden Cross,' Current Market Structure Differs from the 2022 Cycle] BlockBeats News, August 23, CoinDesk analyst James Van Straten published an article stating that Bitcoin typically experiences an upward trend in the weeks leading up to the formation of a 'Golden Cross.' Currently, Bitcoin's 50-day moving average (50DMA) and 200-day moving average (200DMA) are both trending upward, and the market is nearing the golden cross pattern. In 2022, Bitcoin's price never broke above the 200-day moving average, whereas the current market is forming a new structure. He noted: 'This appears to be a new market phase.' The golden cross is generally regarded by the market as a technical signal of strengthening mid- to long-term trends, referring to the short-term moving average (50DMA) crossing above the long-term moving average (200DMA). However, this indicator is a lagging one, primarily used to confirm trend changes rather than predict short-term price movements. Glassnode data shows that historically, Bitcoin has often seen price increases before the 50-day moving average crosses above the 200-day moving average. Currently, the BTC price has reclaimed the area near the 200-day moving average, marking a clear difference from the 2022 market cycle. [Original Link]