Glassnode Flags Cleared Path for BTC as Price Surges Past $79K

Bitcoin (BTC) has broken above $79,000 after its risk index dropped to zero, according to Glassnode's proprietary Risk Index. The market intelligence firm measures systemic risk on a scale of 0 to 100, with BTC currently at its lowest possible level.

The alignment of both models signals a bullish regime, with sustained inflows into Bitcoin ETPs and aggressive demand from spot buyers providing support. This is the strongest level since early February, where BTC had spent most of the time range-bound between $70,000 and $76,000.

K33 analyst Vetle Lunde said, 'We continue to see strong breakout potential for BTC, with concentrated shorts providing ample fuel for a move higher.'