The analysts from Glassnode company in their latest report The Week On-Chain argues that Bitcoin despite its recent market spur might stop its “bull run” at USD 11.3 point. As they see the situation, there are presented some internal forces on the market which are interested in levelling its rate.
This opinion is shared by Glassnode analytics. Its pundits assume that there is a lack of behavior aimed at saving among the crypto market actors. This is completely represented in the following chart of theirs:
One more negative point which might terminate the bullish trend is overall weakness and fragility of traditional markets which might ruin the Bitcoin’s optimistic trend. The reason lies in global macro-sensitivity which BTC cannot get rid of: these macro-factors are the following: the global stock market sentiments and S&P 500 index.
Anyway, no market panic is forecasted for it is most likely that BTC’s bullish behavior will be actual for at least ten weeks at a stretch, thus, Bitcoin still remains a proper asset side investment and keeps on attracting attention of different social groups representatives.