Bitcoin Support at $47K “Very Strong,” Glassnode CTO Asserts After Price Falls
Bitcoin has an extreme potential to hold $47,000 as its support level, according to Rafael Schultze-Kraft, the co-founder/CTO of blockchain analytics platform Glassnode.
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An ongoing bull run in the Bitcoin market might extend until the price hits $60,000-64,000 area, asserts an independent analyst. The pseudonymous entity tweeted Wednesday that BTC/USD needs to hold support above $42,000 to validate its prolonged bullish setup. On the other hand, slipping below the said price floor would signal bearish deviation. “As long […]
Latest data from Glassnode shows investors in the Bitcoin market have shown strong accumulation behavior recently. Bitcoin Holders Show Strong Accumulation For First Time In Months As per the latest weekly report from Glassnode, the BTC accumulation trend score has shown a value of more than 0.9 in the past couple of weeks. The “accumulation […]
The Ethereum (ETH) market has experienced some recent good fortunes rising by over 5% in the past 24 hours. Despite this price gain, the prominent altcoin remains in a downtrend as indicated by its 11.17% loss in the past week. However, prominent analytics platform Glassnode has discovered an important price level that could offer some short-term support. Related Reading: Ethereum Consolidates Since ‘The Big Dump’ – Local Trend Reversal Or Continuation? Investors Boost Accumulation By 300,000 ETH At This Price Region – What Could It Mean? In an X post on March 14, Glassnode provided....
A recent wild run-up in the Bitcoin market faces risks of faltering as traders hesitate to buy the cryptocurrency at higher rates, asserts Marc Principato.
As XRP slides below $1.60, on-chain analytics firm Glassnode has highlighted how the current structure is looking similar to that of April 2022. XRP Is Fast Approaching Its Realized Price In a new post on X, Glassnode has talked about where XRP is currently trading with respect to its Realized Price. This on-chain indicator measures the cost basis or acquisition price of the average address on the blockchain. When the spot price of the cryptocurrency is trading above this metric, it means the investors as a whole can be assumed to be in a state of profit. On the other hand, it being below....