Glassnode Founder: An Unprecedented Movement May Occur in Bitcoin!

Yann Allemann, founder of on-chain analysis platform Glassnode, announced the critical level while pointing out an unprecedented movement in Bitcoin.

In a May 28 social media post, Yann Allemann reviewed Bitcoin's on-chain data. Stating that the 72 thousand dollar level is still a stronger resistance point when looking at the data, the founder stated that if this level is exceeded upwards, a unique movement may be seen.

He pointed out 75 thousand dollars while emphasizing that the upward wave in this scenario could push the price to a new all-time high (ATH).

On the other hand, he reminded that the 72 thousand dollar level was tested 3 times this week, but the sales wall still remains strong.

He stated that if Bitcoin continues to consolidate between $64,000 and $72,000, the door to altcoin rises is opened:

We currently expect Bitcoin to range between $64k and $72k, giving altcoins a chance to shine. The $72,000 to $74,000 range is marked by high supply and selling pressure. However, a sudden breach here could trigger a short squeeze and take Bitcoin to unprecedented heights.