Crypto:
30188
Bitcoin:
$69.684
% 4.78
BTC Dominance:
%54.4
% 0.13
Market Cap:
$2.44 T
% 3.67
Fear & Greed:
74 / 100
Bitcoin:
$ 69.684
BTC Dominance:
% 54.4
Market Cap:
$2.44 T

Glassnode Founder: Bitcoin Could See Unprecedented Move!

Tempory 17

Glassnode founder Yann Allemann points to critical level, suggests Bitcoin could see unprecedented move.

On May 28th, Glassnode founder Yann Allemann analyzed Bitcoin’s on-chain data in a social media post. Looking at the data, the founder stated that the $72,000 level is still a strong resistance point and that if this level is exceeded upwards, a unique movement could be seen.

Emphasizing that the upward wave that will occur within this scenario could carry the price to a new all-time high (ATH), he pointed to $75,000.

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On the other hand, he reminded that the $72,000 level has been tested 3 times this week, but the sell wall is still strong.

He stated that if Bitcoin continues to consolidate between $64,000 and $72,000, it would open the door to altcoin rallies:

We are currently expecting Bitcoin to trade between $64,000 and $72,000, giving altcoins a chance to shine. The $72,000 to $74,000 range is marked by high supply and selling pressure. However, a sudden breach here could trigger a short squeeze and propel Bitcoin to unprecedented levels.

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