Bitcoin might be on track to hit $160,000 as early as October, with a well-known technical signal once again flashing bullish momentum.
According to trader BitBull, Bitcoin’s moving average convergence/divergence (MACD) chart has just printed a fresh “golden cross,” a development that historically aligns with strong upward moves.
A rare MACD setup forms
September is often considered one of Bitcoin’s weakest months, but this year could challenge that trend. The MACD, an indicator that measures momentum by comparing short- and long-term moving averages, has shifted in favor of the bulls.
On Friday, the MACD line crossed above the signal line — a key buy signal for traders. While this is generally positive, BitBull highlighted that the latest cross stands out.
“BTC just triggered a MACD golden cross on the daily chart, but this one is unique,” he explained. “For the first time since the April bottom, we’ve seen a bullish MACD cross happening below the zero line.”
Such setups typically mark the end of a local downtrend and the start of a new wave higher. “The last time we saw this, Bitcoin rallied 40% in a month and set a new all-time high,” BitBull added.
If history rhymes, BTC/USD could be on a path toward $160,000 — a level already eyed as a potential peak for 2025.
Macro tailwinds strengthen Bitcoin’s case
The broader market environment is also lending support. Cooling U.S. inflation has revived optimism across risk assets, from equities to gold, while boosting expectations that the Federal Reserve will soon restart rate cuts.
All eyes are now on Thursday’s release of the August Consumer Price Index (CPI). Traders believe that if the report confirms further easing in inflation, it could lock in a rate cut later this month and add fuel to Bitcoin’s rally.
As analyst Jelle put it on X: “If CPI comes in soft again, that basically guarantees the cut — and markets will celebrate.”
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