Price Prediction
Bitcoin Price Could Crash Below $80,000 Despite ETF Inflows
Glassnode, an on-chain data analytics platform, predicts a potential crash of Bitcoin (BTC) price below $80,000 despite renewed ETF inflows. The firm highlighted that Bitcoin price must not breach a major support level around $81,500, coinciding with the Spot ETF Cost Basis. Glassnode also set $74,800 as robust support in a worst-case scenario for renewed bullish sentiment. Despite BTC's selloff on Thursday, BlackRock's iShares Bitcoin Trust (IBIT) has led other spot Bitcoin ETFs in inflows, accumulating 384.77 BTC worth $31.4 million over the past 24 hours.