Bitcoin and the rest of the crypto market have struggled over recent weeks. After an attempt at breaking the crucial resistance of $10,500, BTC failed, undergoing a retracement that dragged altcoins lower.
Some see this retracement as a precursor to an even further drop. Yet according to an executive of Glassnode, a massive crypto bull run is on the horizon as Bitcoin turns fundamentally positive.
Bitcoin is on the verge of a massive bull run: on-chain data
Rafael Schultze-Kraft, the CTO of blockchain analytics firm Glassnode, released an extensive thread on Jun. 26 outlining 12 signals indicating increasing Bitcoin investor confidence.
The take-away: BTC is “long-term extremely bullish.”
1/ A thread showing 12 charts that illustrate #Bitcoin investor confidence and increased HODLing behavior.
Spoiler: This is long-term extremely bullish.
Let's dig in