CandleFocus Glassnode Report: Bitcoin Primed for Extended Growth Phase Past $89,900 ATH
2024-11-13
Author: Content Editor
The price of Bitcoin is on the verge of surpassing its all-time high and potentially reaching beyond $90,000. A report from Glassnode indicates that the rise in Bitcoin's price may not be over yet, with growing confidence from mainstream investors seen in record inflows into Bitcoin ETFs. Institutional demand for Bitcoin exposure has surged, with BTC ETFs now holding approximately 4.97% of Bitcoin's circulating supply. Past trends suggest that Bitcoin may enter a prolonged period of expansion following previous all-time highs. Bitcoin's current price is $88,022, with the next target set at $90,000. However, a potential decline could see the price dip to $85,000, and failing to hold at that level could lead to further declines.
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