Can Bitcoin Revisit $97,600? Glassnode Says Watch This

39 minutes ago

Bitcoin’s push to $97,600 last week drew a burst o

Can Bitcoin Revisit ,600? Glassnode Says Watch This

Can Bitcoin Revisit $97,600? Glassnode Says Watch This

Bitcoin’s push to $97,600 last week drew a burst of bullish options activity, but Glassnode argues the derivatives tape looked more like short-dated positioning than broad-based conviction. In a Jan. 23 thread, the on-chain analytics firm pointed to a split between front-end call demand and longer-dated risk pricing that stayed anchored in downside protection.

Bitcoin remains trapped between the 0.618 and 0.786 Fib, 1-week chart | Source: BTCUSDT on TradingView.com

Featured image created with DALL.E, chart from TradingView.com

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