The golden cross is forming on the Bitcoin daily chart and everyone is calling it bullish. So I went back and checked what actually happened after the previous ones. In every case there was a pullback shortly after, and the weakest of them was 15 percent. On today's price that is a test of the 66K area, which is exactly what a B wave or a wave two would look like. Video by More Crypto Online.
Bitcoin (BTC) is trading around $78,600 on Wednesday, September 9, 2026, consolidating roughly 0.8% higher than yesterday morning as it tests the $79,000 to $80,000 resistance band. The asset remains down roughly $9,000 from its January 1 opening level of $87,498, leaving it negative for 2026 despite gaining over 20% from its August macro lows.
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0:00 The golden cross forming today
1:57 The 50/100 death cross that marked the lows
4:02 February 2023: a 23 percent decline one week later
6:34 2015 and 2020: golden cross, then a lower low
7:34 What a 15 percent decline would mean today
9:05 Why the shape of the pullback is what matters
11:06 The short term chart and the levels that decide
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Bitcoin Insights Today
-Geopolitical Safe Haven Test: Broad market focus has shifted to escalating U.S.-Iran tensions in the Strait of Hormuz, where U.S. forces recently struck Iranian-linked oil tankers. While global equities fell and Brent crude oil surged to $100 a barrel, Bitcoin has successfully uncoupled from traditional stocks—tracking gold's gains instead as a defensive asset.
-Macro Headwinds & The Fed: The sharp rise in energy costs has intensified fears of persistent inflation ahead of Friday's critical U.S. Consumer Price Index (CPI) report. Yields on 10-year U.S. Treasuries have climbed toward 4.81%. Consequently, the probability of a 25-basis-point Fed rate increase at next week's meeting has jumped to 60.4%, presenting a significant liquidity barrier for risk assets.
-ETF Inflows & Sanctions Strain: U.S. spot Bitcoin ETFs recorded a mild net outflow of $46.65 million yesterday. Meanwhile, the U.S. Treasury's rollout of "Operation Economic Outcast" has forced international crypto exchanges to aggressively freeze suspected Iranian-linked accounts to maintain access to the U.S. banking system.
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