Bitcoin Surges Past $79K as Glassnode's Risk Index Hits Zero

BTC surged to $79,000 on Wednesday after Glassnode's Risk Index hit zero, indicating a cleared path for further upside.

The market intelligence firm's proprietary index measures systemic risk on a scale of 0 to 100 and has been hovering at its lowest level since October 10.

Glassnode pointed to sustained inflows into Bitcoin ETPs and aggressive demand from spot buyers as support for the bullish regime.

The rally also saw crypto-linked stocks jump, with Strategy gaining 10%, Circle adding 9%, and Coinbase rising by 6%.