{"id":630985,"date":"2024-07-23T06:00:26","date_gmt":"2024-07-23T06:00:26","guid":{"rendered":"https:\/\/uniquehot.com\/?p=630985"},"modified":"2024-07-22T17:40:58","modified_gmt":"2024-07-22T17:40:58","slug":"bitcoin-glassnodes-latest-indicators-point-to-growing-optimism","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-glassnodes-latest-indicators-point-to-growing-optimism\/","title":{"rendered":"Bullish on Bitcoin: Glassnode’s Latest Indicators Point to \u2018Growing Optimism\u2019"},"content":{"rendered":"

As Bitcoin approaches a decade and a half years of flawless service, it becomes increasingly difficult not to accept its technical stability.<\/p>\n

Though it may be a technical accomplishment, this strength made Bitcoin different from many centralized systems, which can suffer outages and downtimes.<\/p>\n

Just last week, the global IT outage sparked by CrowdStrike<\/a> revealed again how vulnerable centralized financial systems can be across sectors.<\/p>\n

Related Reading: Don\u2019t Get Shaken Out, Analyst Says Bitcoin And Altcoins Rally Is Just Starting<\/a><\/div>\n

On the contrary, Bitcoin has long functioned unabated and displayed extreme financial strength during growth over longer-term monetary prospects.<\/p>\n

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Banks can be shut down, but Bitcoin never halts.<\/p>\n

While a global IT outage caused by CrowdStrike hit multiple sectors, exposing the weaknesses of centralized systems, #BTC<\/a> kept going strong. Its decentralized nature helped it break price resistances as traditional markets\u2026 pic.twitter.com\/RK7n88WCBR<\/a><\/p>\n

\u2014 \ud835\udde1\ud835\uddf2\ud835\uddf4\ud835\uddf2\ud835\uddfb\ud835\ude01\ud835\uddff\ud835\uddfc\ud835\uddfd\ud835\uddf6\ud835\uddf0 (@Negentropic_) July 22, 2024<\/a><\/p><\/blockquote>\n

Glassnode Insights: Indicators of a Bullish Bitcoin Sentiment<\/h2>\n

According to Glassnode’s latest analysis<\/a>, there’s a growing sense of optimism surrounding Bitcoin’s market outlook<\/a>.<\/p>\n

The co-founders of Glassnode, known collectively as Negentrophic, shared insights on platform X, emphasizing the continuous operation of Bitcoin with the phrase, “Banks can be shut down, but Bitcoin never halts.”<\/p>\n

Their newly introduced metrics reinforce this sentiment, notably the ‘risk speedometer,’ which points to a positive “short to medium-term” outlook for Bitcoin.<\/p>\n

\"Glassnode
Source: Glassnode’s latest Bitcoin metric.<\/figcaption><\/figure>\n

Breaking down the components of the risk speedometer provides a clearer picture of the market’s current stance:<\/p>\n