Data analytics firm Glassnode reports some exciting news in the crypto market. Let’s dive into the details.
Bitcoin’s Big Buy-In
Big Bitcoin investors, including the biggest whales, are piling into BTC, driving its price above $100,000. Glassnode’s analysis shows that investors of all sizes, from those holding less than one Bitcoin to those holding over 10,000, are accumulating BTC at a high rate. This widespread buying suggests strong confidence in Bitcoin’s upward trend. Even the biggest whales are participating at levels not seen since December 2024. At the time of writing, Bitcoin is trading at $117,412.
Ethereum’s Turnaround
The story is a little different for Ethereum (ETH). Glassnode notes a surge in new ETH buyers after a period of low interest. The increase in first-time buyers since early July signals renewed interest and inflow of fresh money into the market, suggesting a potential trend reversal. At the time of writing, Ethereum is priced at $3,765.
Solana’s Potential Breakout
Finally, Glassnode sees potential for Solana (SOL) to make a big jump. The price has recently passed a key resistance point, and if the demand continues, the upward trend could accelerate significantly. The next major resistance level is around $190. At the time of writing, SOL is trading at $197, already above that resistance.