Glassnode has shared its predictions for Bitcoin, with critical levels at $60,000 and $64,000. The market is currently facing increased selling pressure, with the BTC price 18% below its all-time high in March. Glassnode’s on-chain analysis indicates that investor sentiment may improve if Bitcoin rises above $64,000. The firm also highlighted the significant losses suffered by new Bitcoin investors and identified $60,000 and $64,000 as crucial levels for BTC. A sideways trend is expected between these two price points, with a break below $60,000 potentially causing further price declines, while a break above $64,000 could lead to increased investor confidence. At the time of writing, Bitcoin is trading at $60,045. It’s important to note that this is not investment advice. To explore investment options in over 300 cryptocurrencies, you can register with Binance exchange with a 20% commission discount. Follow our Telegram and Twitter accounts for exclusive news, analytics, and on-chain data.
