- Glassnode founders predict Bitcoin market top in weeks due to major momentum signals.
- Strategic actions suggest upcoming market corrections.
- Institutional involvement increases, impacting blockchain asset holdings significantly.
Glassnode co-founders, Jan Happel and Yann Alleman, announce Bitcoin demonstrating major momentum signal on X, predicting a bull market top in 4-5 weeks, reminiscent of October 2024.
This momentum signal suggests imminent bullish conditions for Bitcoin, potentially leading to major price highs and increased investor interest, impacting broader cryptocurrency market dynamics and institutional involvement.
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The analysis, shared directly on their X account, indicates that traders shorting Bitcoin might face significant risks. Their prediction includes a potential top for Bitcoin in the next 4–5 weeks, with a similar trend expected for Ethereum afterwards.
“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.” — Jan Happel, Co-Founder, Glassnode
The market shows a marked withdrawal of Bitcoin from exchanges, with the asset trading near its all-time high. Increased institutional involvement is propelling the bull run, resulting in substantial BTC accumulation over current exchange supplies.
Financial implications include ETF and fund involvement driving the price surge. On-chain data indicates an increase in defensive positioning in derivatives platforms, with public sentiment predominantly optimistic but cautious on timing and expectations. Swissblock provides an interesting analysis on cryptocurrency movements that aligns with these findings.
Historical trends show precedents in 2024, as similar momentum signals led to significant price increases. While financial outcomes could imply market corrections post-peak, regulatory changes and macroeconomic variables like Federal Reserve decisions may influence the trajectory.
