Bitcoin diverges from stock market as market watches for “Golden Cross” technical signal

BlockBeats News, May 27th. During the Asian trading session on Tuesday, Bitcoin briefly dropped to around $75,500, showing a significant deviation from the continued all-time highs in the global stock market. Analysts are currently closely monitoring the potential formation of a "Golden Cross" technical pattern on the BTC chart, where the 50-day moving average is set to cross above the 200-day moving average. If BTC can convincingly break above key moving average resistance levels before the cross is confirmed, it may open up further upside potential; otherwise, a continuation of the current consolidation phase is likely.

On the fund flow side, the U.S. Bitcoin spot ETF has seen outflows of approximately $1.74 billion over the past two weeks, while retail leveraged positions continue to increase. There are concerns in the market that a further pullback could trigger mass liquidations.

As for other major coins, XRP, ETH, and SOL saw slight declines, with ZEC experiencing a 9% drop in a single day; meanwhile, HYPE surged against the trend by 1.4%, and its market capitalization is now approaching that of Dogecoin. Analysts also point out that whether ETH can break through the key $2,400 resistance level will be a crucial signal determining the next direction of the crypto market.