Virtual Assets Absorb $4.9 Billion in One Day...Bitcoin Enters 'Golden Cross'

▲ Bitcoin (BTC), Rise/ChatGPT Generated Image

The total market capitalization of the virtual asset market is increasing upward pressure, nearing a critical watershed of $2.6 trillion.

Virtual asset specialized media BeInCrypto reported on May 22 (local time) that the total market capitalization of virtual assets increased by 0.19% from the previous day, reaching $2.57 trillion. On this day alone, an additional $4.93 billion flowed into the virtual asset market, bringing it to the cusp of entering the $2.6 trillion decisive zone that will determine its future direction. This upward trend is analyzed as a result of NVIDIA's explosive earnings announcement earlier this week, which stimulated risk asset preference across virtual assets and AI-linked assets.

Furthermore, SpaceX officially confirmed through its IPO application that it holds 18,712 BTC of Bitcoin, worth $1.29 billion as of the end of Q1 2026, which strongly supported the trend of corporations incorporating Bitcoin into their assets. This figure more than doubles the estimates of existing blockchain tracking agencies. If the virtual asset market capitalization closes above the $2.6 trillion mark, the surge witnessed on May 4, when it soared to $2.72 trillion in just three days, could be replayed. Conversely, if it fails to break through the resistance and succumbs, the market capitalization will retreat into a tedious range-bound consolidation between $2.53 trillion and $2.47 trillion.

Bitcoin (BTC), the market leader, is also steadily raising its lows, preparing for a shift to upward momentum. As of May 22, Bitcoin was trading up 0.20% at $77,699, continuing a gentle upward trend since its low on March 30. The 50-day Exponential Moving Average (EMA), a technical indicator showing the current trend, is at $76,821, and the 100-day EMA is at $76,896, converging perfectly within a narrow range. If a bullish golden cross, where these two lines intersect, is confirmed, a strong trend reversal signal will be activated.

Once the golden cross momentum fully kicks in, Bitcoin will gain the impetus to easily break through the short-term resistance and Fibonacci 0.236 retracement level of $80,195. If the rally continues and simultaneously surpasses the 20-day EMA at $78,321, the next target prices will be adjusted upwards to the $81,642 level and $82,802 level, where the 200-day EMA is located. If Bitcoin settles above the $80,195 level and closes its daily candle there, it will embark on a rapid ascent, passing $84,910 and ultimately reaching the $87,017 zone. Conversely, if it falls below the $75,980 support level and closes there, the entire upward trend accumulated so far will collapse, exposing it to the risk of a forced reset.

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