Founders of Glassnode, Jan Happel and Yann Allemann, forecast that Bitcoin (BTC) 
$96,652 can gain value after a recent correction to low levels around $90,000. The reduced selling activity by long-term holders (LTHs) during this period indicates potential signs of market recovery.
Current Status of Bitcoin
Experts report that Bitcoin is currently trading at approximately $96,726. This correction is seen as the beginning of Bitcoin’s recovery phase. The decrease in selling by LTHs may suggest that the market is stabilizing.
Happel and Allemann state, “Long-term investors are realizing profits around the $100,000 mark while being less aggressive in selling compared to the first quarter. The absence of significant profit-taking fluctuations suggests that fewer LTHs have exited the market during this correction, indicating we might have reached a bottom.”
Expectations for FET
Experts also express positive views regarding the AI-based crypto project, Artificial Superintelligence Alliance (FET). Currently trading at $1.62, FET experienced an 8.1% increase in the last 24 hours. Negentropic notes that FET has strong fundamentals and holds recovery potential.
“When Bitcoin corrects during an upward trend, we use our three-factor authentication checklist for alternative crypto opportunities: strong fundamentals, neutral RSI, and the price still being in an accumulation phase. FET meets all the criteria, making accumulation at lower levels reasonable.”
FET’s price has been consolidating since July, which could represent an opportunity for investors. This situation creates a favorable environment for implementing an effective dollar-cost averaging strategy.
The observed activity in crypto assets like Bitcoin and FET highlights the need for careful monitoring of market dynamics. The behaviors of long-term investors and movements in alternative cryptocurrencies may play a significant role in determining future price trends.
When making strategic investment decisions in the crypto market, following fundamental analysis and market trends is critical. While Bitcoin’s potential recovery period may present new opportunities for investors, the performance of alternative projects can also influence investment decisions.
