The two founders of a major blockchain data company delve into what fueled Bitcoin’s (BTC) most recent push past $100,000.
According to Jan Happel and Yann Allemann, co-founders of Glassnode, inflation data sparked BTC’s rally this week to over $100,000.
“With inflation data meeting expectations, Bitcoin is back above $100,000!
Next steps:
- Reverse $102,000 support, breaking price compression below this area.
- A loss of $100,000 could lead to a retest of support at $97,200 to $98,500, aligning with the lower end of the ascending channel.
- A daily close above $102,000 targets $104,000 and ultimately the upper channel at $108,000.
Will the Bitcoin breakthrough decline?
BTC is trading at $101,604 at the time of writing, up 7% over the past two weeks.
Moving on to Solana (SOL), Ethereum’s main rival, Happel and Allemann say SOL is also eyeing a major rally.
“SOL considers an escape
SOL reached the marked zone and bounced towards $230. If it rises above $235 on a daily time frame, it could break the price squeeze, targeting the previous high of $264.
Key signals:
The daily RSI (relative strength indicator) is neutral, far from overbought territory – favorable for an upside.
If SOL takes off, keep an eye on ecosystem tokens JUP and WIF for potential momentum.
Will SOL reach new heights?
SOL is worth $230 at the time of writing, up 0.3% on the day.
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