Glassnode founder Yann Allemann suggested that Bitcoin (BTC) will not witness a deeper decline based on current data.
Yann Allemann in a recent social media in your postBitcoin current price movements He made statements about. Bitcoin a few days ago 28 thousand dollars rising suddenly and then soon With a decrease of around 4.5% again 28 thousand dollars The founder, who set out to retreat to gold, at this point that a deeper fall is impossible noted.
Bitcoin risk index Experienced person who uses data, The last around 4.5% With the decrease in risk level “high risk” It gave investors a sigh of relief by pointing out that it quickly retreated below its zone. According to the chart presented by the founder, Bitcoin is currently in low risk area positioning.
Allemann included the following statements between the lines of his statement:
Bitcoin surged 6% on Sunday, but hitting the barrier at $28.5K led to a 4.5% decline the next day. However, a sharp drop in the Risk Signal below the high risk threshold indicates that a major decline is unlikely at this stage.
In addition to these statements of the founder, Bitcoin’s dollar index (DXY) and US bond yields It has proven to outperform stock markets as it continues to rise.
On the other hand, there is currently a “in the dead zone” Reminding our position, Allemann said, 29 thousand dollars He argued that if it is exceeded, we may encounter a more positive picture.
According to CoinGecko data, in the last 24 hours up 0.5% Bitcoin at the time of writing 27,710 It finds buyers in dollars.