Glassnode Highlights Signals for Bitcoin’s Next Big Move
- Glassnode analyzed the state of Bitcoin and believes volatility is imminent
- The analysis focuses on decreasing sell pressure, tightening price range, and more
- The price could go either way, the research suggests
Bitcoin may soon experience significant price swings in the short-term, since the sell pressure is diminishing, and the market is quickly approaching a state of equilibrium. This is according to new in-depth analysis from on-chain data analytics platform Glassnode.
Seeking Liquidity
Earlier this week, Glassnode published an analysis on the state of Bitcoin, and what we can expect price-wise, in the short-term. Called Seeking Liquidity, the article discusses three key points that should result in a strong move to either side: positive capital flows, diminishing sell-side pressure, and the tightening up of “several measures of volatility”.
“As the price hit the $100k level, net capital inflows into Bitcoin surged, signifying investors were locking in substantial profits,” Glassnode explains. “These capital inflows have since started to decline in magnitude as the market consolidates and acclimatises to the new price range.”
Current…
The post Glassnode Highlights Signals for Bitcoin’s Next Big Move appeared first on Coin Edition.
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Glassnode Highlights Signals for Bitcoin’s Next Big Move
- Glassnode analyzed the state of Bitcoin and believes volatility is imminent
- The analysis focuses on decreasing sell pressure, tightening price range, and more
- The price could go either way, the research suggests
Bitcoin may soon experience significant price swings in the short-term, since the sell pressure is diminishing, and the market is quickly approaching a state of equilibrium. This is according to new in-depth analysis from on-chain data analytics platform Glassnode.
Seeking Liquidity
Earlier this week, Glassnode published an analysis on the state of Bitcoin, and what we can expect price-wise, in the short-term. Called Seeking Liquidity, the article discusses three key points that should result in a strong move to either side: positive capital flows, diminishing sell-side pressure, and the tightening up of “several measures of volatility”.
“As the price hit the $100k level, net capital inflows into Bitcoin surged, signifying investors were locking in substantial profits,” Glassnode explains. “These capital inflows have since started to decline in magnitude as the market consolidates and acclimatises to the new price range.”
Current…
The post Glassnode Highlights Signals for Bitcoin’s Next Big Move appeared first on Coin Edition.
Read More
Schiff to Give Bitcoin Conference ‘Reality Check’ Similar to 2006 Warning