The evaluation made by Jan Happel and Yann Allemann, the founders of the on-chain analysis platform Glassnode, from the Negentropic account they jointly use on X, shows that Bitcoin could also exceed the $80,000 level in a short time.

Stating that Bitcoin is about to break an upward flag formation, the analysts said the following:

“Bitcoin is currently about to break the upward flag trend with its 50-day simple moving average… When the $65-66,000 level is broken, the next stop will be $73.5,000. If $76.5,000 is also exceeded, $85.2,000 may come before the summer.”

A day earlier, the two analysts had also written that the downward movements continued, but that this situation had also “cooled down” due to the liquidation of long positions that came over the weekend.

Glassnode founders, in an analysis in February, also stated that they expected Bitcoin to experience a sharp rise, and they were right in their predictions. Bitcoin, which was at the level of $40,000 in early February, reached $73,000 by mid-March.

The two analysts had also stated that they expect the largest cryptocurrency to reach $120,000 in July.

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