Bitcoin is currently revisiting the “golden cross,” a bullish signal that has previously foreshadowed significant price increases, according to cryptocurrency market analyst Mister Crypto.

In a recent post on X, he illustrated that Bitcoin’s (BTC) previous golden crosses resulted in price increases of 2,200% in 2017 and 1,190% in 2020. With Bitcoin currently around $110,000, he noted that maintaining this level could trigger another major price surge.

“The setup looks incredibly strong,” he stated, adding that a confirmed breakout could lead to Bitcoin’s price “absolutely exploding” in the near future.

A golden cross occurs when a short-term moving average, usually the 50-day, surpasses a long-term moving average, commonly the 200-day, indicating an upward momentum shift from bearish to bullish.

Bitcoin retests golden cross. Source: Mister Crypto

Related: Luxembourg sovereign wealth fund dips into Bitcoin ETFs with a 1% stake

Bitcoin Needs to Stay Above $110K to Avoid Cycle Conclusion: Analyst

Another cryptocurrency analyst, Mac, expressed caution, stating that Bitcoin must remain above the $110,000 mark or risk signaling the conclusion of the current market cycle. In his post, he remarked that the 4-hour Money Flow Index (MFI) is “deeply oversold,” indicating that BTC might be ready for a temporary rebound.

Mac suggested that while the risk-to-reward ratio appears favorable, he does not foresee a significant surge in the short term, predicting instead “a bit more upward fluctuation next week.”

Bitcoin must hold $110K level. Source: Mac

Meanwhile, Fundstrat’s co-founder, Tom Lee, remarked that the recent decline in the stock market may be somewhat overdue, referencing a 36% rise since April. He pointed out that Friday’s drop was the most significant in six months.

Lee noted a sharp increase in the VIX, a market volatility measure, which spiked by 1.29%, calling it “the 51st largest ever spike in the VIX,” implying that investors are looking for safety.

He suggested that this spike in volatility usually indicates a short-term market bottom as traders rush to hedge rather than sell. “If someone asks, ‘Will we be higher a week from today?’ I’d say the odds are quite good,” he remarked.

Related: How high can Bitcoin price go in October?

Trump Imposes 100% Tariffs on Chinese Imports

The recent market downturn followed an announcement by US President Donald Trump regarding the imposition of 100% tariffs on all Chinese imports starting November 1, in retaliation for China’s new export restrictions on rare earth minerals. China, responsible for approximately 70% of the global rare earth supply, has recently mandated that any product containing over 0.1% Chinese-sourced rare earths requires an export license, effective December 1.