Ethereum

Solana

Bitcoin

Rise

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/experts-analyze-the-factors-behind-bitcoins-recent-surge/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Experts Analyze the Factors Behind Bitcoin’s Recent Surge</a> 
The two founders of a leading blockchain data firm, Jan Happel and Yann Allemann from Glassnode, investigated the reasons behind Bitcoin’s (BTC) recent rise. Bitcoin surpassed $100,000 this week as inflation data met expectations.
<h2 id="factors-contributing-to-bitcoin-s-rise">Factors Contributing to Bitcoin’s Rise</h2>
The founders of Glassnode noted that inflation data played a significant role in boosting Bitcoin’s price. Happel stated, “When inflation data meets expectations, Bitcoin surged above $100,000!” He explained how the market reacted to these figures.
Happel and Allemann suggested that Bitcoin aims to establish $102,000 as a support level, indicating that if pressure occurs below this region, a support test could emerge between $97,200 and $98,500. Additionally, they mentioned that if a daily close exceeds $102,000, target levels would be set at $104,000 and $108,000.
<h2 id="potential-of-solana-sol">Potential of Solana (SOL)</h2>
The co-founders also shared insights about Solana (<a href="https://en.coin-turk.com/solana-becomes-one-of-the-high-liquidity-altcoins-on-coinbase/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SOL</a>), a leading competitor to Ethereum , stating that SOL is also targeting a significant rise. They explained, “If SOL surpasses the established region and exceeds $235, it could reach the previous high of $264.”
The neutral level of SOL’s daily RSI indicator was perceived as a positive sign for upward price movement. Furthermore, they mentioned that ecosystem tokens JUP and WIF could provide potential momentum.
Currently, Bitcoin is trading at $101,604, experiencing a 7% increase over the past two weeks. Solana stands at $230, showing a daily increase of 0.3%.
<blockquote>
 “After Bitcoin surpassed $100,000, the overall market sentiment continues to remain positive,” said Jan Happel.
</blockquote>
In light of these developments, monitoring the movements of Bitcoin and Solana in the <a href="https://en.coin-turk.com/crypto-investment-products-experience-significant-inflows/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/bitcoin-and-altcoins-price-movements-and-market-trends/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> market may be important for potential stakeholders.
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Experts Analyze the Factors Behind Bitcoin’s Recent Surge

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