Hassan Maishera
TL;DR
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Bitcoin slipped 1% but remained above $78,000 as most major altcoins posted heavier losses.
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A recent golden cross offers a potentially bullish signal, although surging oil prices, elevated Treasury yields, and inflation concerns continue to pressure crypto and equity markets.
Bitcoin traded slightly above $78,000 during Thursday’s Asian session, declining approximately 1% over the previous 24 hours as escalating geopolitical tensions weighed on cryptocurrencies and other risk assets.
Most major altcoins recorded steeper losses. Dogecoin fell more than 5%, making it the weakest performer among the largest cryptocurrencies. BNB dropped roughly 4%, while XRP declined 3%.
Ether, Solana and Hyperliquid’s HYPE lost between 1% and 3%. Ether slipped below $2,475, while Solana traded near $102. Tron was the only major cryptocurrency to post a gain, rising less than 1% to approximately $0.34.
Bitcoin Golden Cross Offers a Bullish Signal
Despite the latest pullback, Bitcoin generated a potentially bullish technical signal Tuesday when its 50-day moving average crossed above its 200-day moving average.
The formation, commonly known as a golden cross, is typically interpreted as an indication that longer-term momentum is improving.
FxPro analysts noted that similar crossovers in October 2024 and May 2025 failed to produce meaningful rallies. However, they said the latest signal appeared after a prolonged bull market rather than during a broader correction.
According to the analysts, the current market structure more closely resembles Bitcoin’s setup in 2019, when the cryptocurrency rallied approximately 90% in less than two months after the crossover.
Oil Rally Revives Inflation Concerns
Macroeconomic conditions continued to overshadow the positive technical signal. Brent crude climbed to nearly $102 per barrel during Asian trading after Iran said it was prepared for a more intense conflict.
Rising energy prices are strengthening expectations that inflation could remain elevated, potentially limiting the Federal Reserve’s ability to lower interest rates.
The US 10-year Treasury yield held near 4.85%, its highest level since late 2023. Investors were disappointed by the government’s plan to purchase up to $6 billion of longer-dated debt, having anticipated a larger intervention.
Investors now await Friday’s Consumer Price Index report. A stronger-than-expected inflation reading could revive expectations of a Federal Reserve interest-rate increase, adding further pressure to Bitcoin and other risk-sensitive assets.
