The co-founders of market intelligence firm Glassnode are identifying one nascent crypto sector that looks particularly strong while updating their outlook on Bitcoin (BTC).
In a new thread on the social media platform X, Jan Happel and Yann Alleman – who go by the handle Negentropic – say that real world asset tokenization protocols such as Ondo Finance (ONDO) and Mantra (OM) appear “fundamentally strong” and ready to spark a rally to the upside.
[adinserter block="1"]“The top-performing altcoin narrative since the last dip and capitulation? Real World Assets (RWA). ONDO led the tokenization wave and is achieving adoption, but now OM (Mantra’s native token) stands out.
RWA small caps have fully retraced the post-Trump pump but keep swimming the narrative. Fundamentally strong, primed for buy and hold. The mid-term setup looks promising.”
ONDO and OM are trading for $1.31 and $5.83 at time of writing, respectively.
Moving on to the top crypto asset by market cap, Happel and Alleman say that bad economic news could send BTC back down to a price tag of somewhere between $92,000 and $95,000.
However, the duo notes that Bitcoin could continue its bullish momentum if it successfully retests its resistance zone.
“BTC lost $100,000 [and is] retesting $97,200-$98,500. A clean consolidation here = bullish continuation. A break lower? $95,000 or even $92,000 could be next. Markets are on edge ahead of US jobs data and trade war. Buckle up.”
The flagship digital asset is trading for $96,674 at time of writing, a fractional decrease during the last 24 hours.
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