According to The Daily Hodl, Glassnode co-founders Jan Happel and Yann Alleman have observed a slowdown in Bitcoin profit-taking. They highlight two potential catalysts for Bitcoin's upward movement this month: the reopening of markets after the holidays and portfolio rebalancing ahead of pro-crypto US President-elect Donald Trump's inauguration on January 20th. Bitcoin is currently trading at $97,429, marking a 4.2% increase in the last 24 hours. Additionally, the analysts suggest that altcoins, particularly Ethereum, may start to outperform Bitcoin as the Bitcoin Dominance chart shows a decline. Ethereum is trading at 0.03565 BTC, indicating a possible market bottom against Bitcoin.
Glassnode Co-Founders Predict Bitcoin Action Amid Slowing Profit-Taking
KuCoin NewsShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.