Glassnode Co-Founders Call for Major Crypto Bottom, Predict Q4 Breakout Rallies
Glassnode co-founders Jan Happel and Yann Alleman predict a strong Q4 for crypto following last month's correction. They believe a market bottom was reached based on Swissblock’s Aggregated Impulse metric. While pullbacks may occur, they anticipate breakout rallies, with Bitcoin expected to surpass $110,000. Swissblock also identifies this price level as crucial for bullish momentum. Currently, Bitcoin is trading at $114,003.
The co-founders of the market intelligence firm Glassnode believe that crypto is gearing up for a strong fourth quarter after last month’s correction.
Jan Happel and Yann Alleman, who go by the pseudonym Negentropic, tell their 63,900 followers on X that crypto printed a bottom late last month based on Swissblock’s Aggregated Impulse metric, which tracks the exponential price structure of the top 350 assets.
Happel and Alleman say that while crypto can still witness pullbacks in the coming days, the market is poised for breakout rallies.
Looking at Bitcoin, the pair says they expect BTC to dip above $110,000 before igniting rallies.
Meanwhile, crypto analytics firm Swissblock sees the $110,000 price level as a must-hold area for bulls.
At time of writing, Bitcoin is trading for $114,003.
