Heavy inflows into spot Bitcoin ETFs have made headlines recently. But other measures show U.S. investors’ appetite for the asset. An analyst from analysis firm CryptoQuant says every path for BTC leads to $150,000. Glassnode analysts predict that FOMO will continue the rally.
“for Bitcoin There are two ways. Both of them go for 150 thousand dollars!”
cryptokoin.comAs you follow from , the leading cryptocurrency Bitcoin continues to show strength. However, it remains unclear how long he will maintain this. However, analysts expect more from BTC. An analyst from the analysis firm CryptoQuant came to interesting conclusions as a result of his long research. The analyst put forward two different scenarios. Although these go in different ways, they ultimately reach $150,000. The analyst states that he spent more than 100 hours examining on-chain data to reach this conclusion. He then lists his findings:
Net unrealized profits and losses are very close to the 0.54 level that marked a peak in 2019. We’re not quite there yet, but many are still profitable. The current value is 0.49, the Puell coefficient has reached 1.83 and there is still some way to go until the 2019 resistance of 2.05. BTC Open interest is increasing and is at similar levels to the first rally of 2021. The only interesting thing is that OI is slowly rising and has not exploded to the top like in 2021. This means this could still happen.
Ultimately, the analyst says there are two scenarios. These:
- Scenario A: A repeat of 2019, when Supply at Loss bottomed out at 16% and bounced back. This means that the BTC price will drop to the realized price line ($23k) in the next 6 months. Scenario B will then follow.
- Scenario B: Loss supply will decrease to 3% in the next 6 months. If this is the case, BTC will go on a massive rise and probably reach $150,000. I think Scenario B is more likely since new money has not entered the market and we have not yet experienced an OI boom.
Glassnode: Investors will experience FOMO if this happens!
Glassnode co-founders Jan Happel and Yann Allemann, who share the username Negentropic on social media platform They also note that it will ensure that the upward momentum continues. In this context, analysts make the following statement:
Bitcoin waits for no one! Bitcoin experienced a significant rally towards the $52,000 level and broke key resistance areas. The $52,000 level, which has historically served as a strong resistance on the weekly chart, is crucial. A breach could create more buying pressure, potentially leading to a FOMO scenario. BTC’s current trajectory depends on its ability to surpass and maintain levels above $52,000.
Analysts say the next resistance line in Bitcoin’s uptrend is $58,000. In this regard, analysts said, “BTC left the building. Or, to put it more accurately, it has gone on a huge rise! Next up is $58,000 before $65,000. ATHs are coming here! The great BTC bull continues.” says.
“This rally in Bitcoin and crypto is not over yet!”
Looking at its charts, analysts suggest that Bitcoin has completed a bullish ABC corrective wave. Finally, analysts say that while there may be market corrections in the future, historical price movements show that corrections alone do not always invalidate a Bitcoin uptrend. On this subject, they use the following expressions:
Remember the ‘big pullback’ in BTC in January 2024? See if you can spot it here. BTC is now close to surpassing the Bitcoin ETF’s entry level. Big rallies are accompanied by big pullbacks. That’s just the name of the game! Embrace this or don’t invest your money in crypto. However, this does not mean that the entire trend has changed. This rally in BTC and crypto is not over yet.
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