Smart Money’s Role in BTC Price Dynamics Pre-Halving, Glassnode Analysis

Glassnode’s latest analysis reveals that financial institutions and ‘smart money’ are influencing Bitcoin’s price dynamics ahead of the upcoming halving event. 

The historical data from Glassnode indicates substantial price surges following previous halvings, highlighting the potential impact on supply-demand dynamics. However, the current halving presents unique challenges due to increased institutional involvement through ETFs and shifts in long-term investor behavior. 

Glassnode advises monitoring ETF activities, market dynamics related to long-term holders, and being cautious of potential sell-the-news effects during the halving. Bitcoin’s current price stands at $60,578, reflecting a 2.17% decrease in the last 24 hours.

Clever Robot News Desk 18^th April 2024