The co-founders of the analytics firm Glassnode say the bull market top for Bitcoin (BTC) is in sight.
Jan Happel and Yann Alleman, who go by the pseudonym Negentropic, tell their 63,900 followers on X that traders shorting Bitcoin right now will likely absorb losses.
According to the Glassnode co-founders, BTC is flashing signals witnessed exactly a year ago that drove Bitcoin to breach $100,000 for the first time ever.
“Our major momentum signal is in and accelerating deployment.
Last time this happened was October 2024, things about to heat up.
Bottom Confirmation with aggregated impulse.
BTC Trend and reversal confirmation with systematic strategies.
ETH systematic signals will be next, once BTC goes over all-time highs (ATHs).
If you are shorting this move, you are out of your mind.”
While the pair is bullish on Bitcoin and altcoins, they warn that the end of crypto’s bullish phase is on the horizon.
“There is a good chance BTC tops out in 4-5 weeks, and alts in 6-8 weeks.”
Meanwhile, analytics firm Swissblock says strong fundamentals are carrying BTC to new all-time high levels.
“Now, with Bitcoin trending into the ATH zone, it’s clear: fundamentals were the launchpad. Liquidity and network growth built the base, turning a bearish setup into the foundation of the current bullish trend. The lesson: when price and sentiment diverge from fundamentals, it often marks structural inflection points.”
At time of writing, Bitcoin is trading at $124,144, very close to its all-time high of $125,782.
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