GlassNode: Bitcoin will continue to grow in the future

After a significant market crash, analysts emphasize positive signals for bitcoin BTC $76,620.94 Mezo Wrapped BTC 1.61% Market capitalization $0.1 billion VOL. 24 hours $1.24 billion . In particular, support above $ 88,000 and hidden bullish divergences indicate a possible trend recovery to new highs.

Bitcoin’s price showed a bearish pattern on the daily chart for the first time since October 21, testing support at $ 95,000 before declining further. Despite this, the long-term structure of the market remains stable.

GlassNode analyst Raphael Schulze-Kraft noted that the key support level is $ 96,000, but special attention should be paid to the $ 88,000 zone. He emphasized that below this level, the accumulation of support decreases significantly, with the next major zone only at $ 70,000.Another expert, Axel Adler Jr. noted the growth in the capitalization of new investors in bitcoin. This indicates that the market is steadily absorbing the selling pressure from long-term holders.The one-day chart also shows a hidden bullish divergence between the price and the Relative Strength Index (RSI). This may indicate an increase in market momentum.Daan Crypto, an independent trader, noted that after the market stabilizes, bitcoin may return to an uptrend.Given the latest data, the key to maintaining the positive trend is to keep the price above $ 90,000. If this level is maintained, analysts expect further growth and recovery of the market after the recent decline.