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Crypto

Bitcoin Breakout: Price Surges Past $79K as Glassnode Risk Index Hits Zero

Guavy AI Editorial Team
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BTC
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The price of Bitcoin (BTC) has surged past $79,000, up 4.5% in the last 24 hours. This breakout comes as Glassnode's Risk Index drops to zero, indicating a cleared risk environment for further upside.

Glassnode's Moderate Strategy tracker has flipped from 'Moderate' to 'High Confidence', signaling a bullish regime. The market intelligence firm points to sustained inflows into Bitcoin ETPs and aggressive demand from spot buyers as support.

K33 analyst Vetle Lunde comments that the strong breakout potential for BTC is fueled by concentrated shorts providing ample fuel for a move higher.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment advisor. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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