Decrypt's analysis points out that a second "golden cross" signal has appeared on Bitcoin's daily chart, where the 100-day exponential moving average (EMA) crosses above the 200-day EMA. This is considered a stronger bullish signal than the 50-day EMA crossing above the 200-day EMA, indicating that Bitcoin's price has sustained a high level in the medium term, rather than just a short-term rebound. Bitcoin is currently trading at approximately $86,100, up 1.14% over 24 hours.

The analysis suggests that the recent catalyst for Bitcoin's rise was the weaker-than-expected US jobs report released last Friday (October 2). Non-farm payrolls in September increased by only 29,000, and the unemployment rate rose to 4.2%, which lowered market expectations for a Federal Reserve interest rate hike in October. US spot Bitcoin ETFs recorded a net inflow of $189.84 million in the latest daily data, bringing their total net assets to $101.1 billion.