Bitcoin Rally Cools Down Ahead of a Rare Golden Cross

Bitcoin prices took a hit today as a broader market selloff sparked by inflation fears swept across the crypto space. Even the top digital asset could not dodge the downward pressure, leaving many traders wondering if the recent market momentum is running out of steam.

Despite the short term dip, chart watchers are focusing on a positive technical signal. A closely watched moving average pattern is on the verge of turning bullish for the first time since last November, pointing to potential strength ahead.

Traders are now watching to see how the market absorbs this inflation news and whether the upcoming golden cross can spark a new wave of buying pressure. Keep an eye on key support levels as the market figures out its next big move.