“Sellers Have No Ammo”: Glassnode Co-Founders Predict Imminent BTC Move
Main Idea
Glassnode co-founders predict Bitcoin's next major price movement will be driven by global M2 liquidity, with sellers lacking momentum and liquidity flows poised to influence the market.
Key Points
1. Bitcoin's next trend is expected to be influenced by global M2 liquidity, according to Glassnode co-founders Yann Allemann and Jan Happel.
2. The market is currently in a stalemate, with sellers lacking momentum ('no ammo') and buyers not actively stepping in.
3. Global M2 money supply data shows a slight decline from its peak in April but remains at high levels, suggesting liquidity may soon return to the market.
4. Bitcoin's price was $114,008 at the time of writing, reflecting a 2.09% rebound from a recent pullback to $111,919.
5. Analysts generally maintain a long-term bullish outlook for Bitcoin, aligning with Allemann and Happel's liquidity-driven projection.
Description
Glassnode’s co-founders say Bitcoin’s next trend will be driven by global M2 liquidity. The market is currently in a stalemate as both buyers and sellers remain inactive. Analysts predict a key shift in M2 money supply is expected to begin in about four days. While many factors can influence Bitcoin’s price, analysts Yann Allemann and Jan Happel, the co-founders of Glassnode, believe one particular metric will likely determine its next major trend and that is global liquidity. They argued via th...
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