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.
The post <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> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Experts Analyze the Factors Behind Bitcoin’s Recent Surge

Table of Contents

COINTURK NEWS

Other articles published on Dec 13, 2024

Market Sentiment Wavers as ARB Tops December Token Unlocks

Best Meme Coins to Buy Today: BTFD Coin’s $3.7M Presale, Pepe’s Bull Run, and AI Companions’ 159%...

XRP Price Rally Inspires Interest in an Overlooked Altcoin with Similar 16,509% Potential

🗒 Daily Newsletter | Friday, December 13, 2024

Qubetics Revolutionises Asset Tokenization, SUI Enhances Scalability, and Bitcoin Maintains Marke...

Chainalysis expands Solana coverage to include Pump.fun memecoins

Join our free newsletter for daily crypto updates!