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**$100,000 Bitcoin Prediction Made by Glassnode Cofounders on Macro Factors**
A sharp surge in $100,000 BTC transactions has sparked discussions about the potential direction of the market. In a recent tweet, Glassnode cofounders, known as “Negentropic” on X, revealed that they are closely monitoring two key macro factors: inflation data and interest rates.
The cofounders believe that until clarity is gained on these crucial data points, choppy price action and position liquidations might persist. In fact, they predict that the “$100,000 target isn’t far off,” possibly in the short term.
In a separate tweet, Negentropic hinted that any pre-CPI move could be a fakeout, with the real market direction emerging only after the data release. The Glassnode cofounders’ statements have sent ripples through the crypto community, as investors and traders eagerly await the release of U.S. inflation data.
The recent surge in $100,000 BTC transactions has raised concerns about price instability and potential liquidations. As Bitcoin attempts to reclaim the $97,200 to $98,500 zone, this key range serves as a base for reaching the coveted $100,000 mark. Any spike in futures at this level could fuel further liquidations and market volatility.
As the crypto market continues to navigate these uncertain times, it remains crucial to monitor developments surrounding macro factors like inflation data and interest rates.
Source: u.today
