Summary
- The co-founder of Glassnode stated that the recent decline in Bitcoin's Risk Index suggests the possibility of a bottom for Bitcoin.
- Bitcoin is emphasized to be supporting the range of $97,200 to $98,500 and preparing for macroeconomic volatility.
- It was conveyed that if the current range during the Regime Shift is maintained as a support line, Bitcoin will show strength.
An analysis has emerged suggesting that the bottom for Bitcoin (BTC) may have formed.
On the 10th (local time), the co-founder account of Glassnode, Negentropic, stated on X, "There is a possibility that Bitcoin has formed a bottom," citing the recent decline in the Risk Index. He further mentioned, "Bitcoin is supporting the range of $97,200 to $98,500, preparing for macroeconomic volatility," and emphasized, "If the Risk Index does not increase after the volatility, Bitcoin has reached the bottom."
He added, "The Regime Shift also suggests a trend change," and "As long as this range is maintained as a support line, Bitcoin will certainly show strength."
Meanwhile, the U.S. January Consumer Price Index (CPI) is scheduled to be announced at 10:30 PM (KST) on the 12th.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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