Toncoin

Rise

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 One cause, according to the co-founders of the cryptocurrency analytics platform Glassnode, might spark Bitcoin’s (BTC) next rally. 
 Jan Happel and Yann Allemann, co-founders of Glassnode who go by the moniker Negentropic, advise their 55,900 X followers that a BTC rally could occur if the Relative Strength Index (RSI) indicator drops below 37. 
 The RSI indicator has a 0 to 100 scale. Generally speaking, a score of less than 30 is bullish, while a value of more than 70 is regarded as a negative indicator. 
 The co-founders of Glassnode claim that purchasers are reportedly on the lookout below and close to the $28,500 support level. 
 “Bitcoin’s potential retest of $28,500 bottom indicated by RSI. 
 – Bears holding sway with RSI between 37-50. 
 – Sub-37 RSI could trigger a strong reversal. 
 – Demand shows up between $28,500 – $27,800. 
 Is this the catalyst for the next upward move?” 
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 Source: Negentropic/X 
 At the time of writing, the price of one bitcoin is $29,508. 
 Regarding altcoins, the co-founders of Glassnode claim that absent a “surprise catalyst,” altcoins are only likely to gain in value after summer as they struggle in the face of a decline in Bitcoin’s price. 
 “Despite BTC’s bullish move past $30,000 this week, will it continue? 
 Altcoins struggle, except for standouts like Solana (SOL), Toncoin (TON), and Hedera (HBAR), showing gains of 6% to 9% overnight. 
 As BTC dips, altcoins feel the pressure. 
 Unless a surprise catalyst emerges, we’re waiting for that strong push, possibly post-summer.” 
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 Source: Negentropic/X  
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Glassnode Co-Founders Predict Bitcoin’s Next Rise Trigger

TheBitTimes

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