The co-founders of the crypto analytics platform Glassnode are issuing a warning that Bitcoin (BTC) may be heading for a severe correction after its historic $100,000 breakthrough.
Jan Happel and Yann Allemann, who go by the handle Negentropic, tell their 63,200 followers on the social media platform X that the Bitcoin Fundamental Index (BFI) metric is singling a weakening market.
The BFI evaluates several aspects of the Bitcoin market, including wallet activity and transaction volume. When it declines, the risk of a market correction increases.
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“Not to rain on the parade, but Bitcoin has crossed $100,000, yet the Bitcoin Fundamental Index (BFI) is starting to weaken. Should we be concerned? This indicator often sends early warning signals, and once confirmed, they’re hard to ignore. Take
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