Glassnode’s co-founders believe Bitcoin (BTC), after a prolonged consolidation phase this year, is poised to go uncharted.
Jan Happel, Yann Allemann and Negentropic tell their 63.200 followers via the social media platform X, that the “battle for $69,000” is now on for Bitcoin.
Glassnode’s founders shared a chart that suggests Bitcoin has already surpassed its diagonal resistance, which has held BTC down since March.
Glassnode’s executives stated in a Swissblock article that Bitcoin has now been able to reach its highest level of $74,000. The upcoming US Presidential election is also seen as a catalyst for Bitcoin FOMO.
We don’t want to doubt Trump’s intentions, but we also can’t give a politician the benefit of doubt when they make promises in an election. We won’t be upset if FOMO causes a Trump pump.
Donald Trump has changed his stance from being a crypto critic to one who is pro-digital assets. Trump, while speaking at the Bitcoin2024 Conference said that the US government should not sell its BTC. He would instruct the officials to keep it as an investment.
Happel and Allemann, who focused on Bitcoin in particular, say that the on-chain Bitcoin data indicates that BTC has a bullish trend while displaying a low risk reading.
Bitcoin was trading at $69,219 as of the time this article is written, an increase of over 1% for the day.
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This article Glassnode Cofounders Name One catalyst That Could Trigger BTC FOMO and Say Battle For $69,000 Is on appeared first on the ICD.
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