Jan Happel and Yann Allemann of Glassnode, two founders of a leading blockchain data firm, are discussing Bitcoin $101,003.1He examined the reasons behind the recent rise of (BTC). Bitcoin rose above $100,000 this week as inflation data met expectations.
Factors Behind Bitcoin’s Rise
Glassnode’s founders stated that inflation data played an important role in increasing the price of Bitcoin. “Bitcoin rises above $100,000 as inflation data meets expectations!” Happel explained how the market reacted with this data.
Happel and Allemann said that Bitcoin aims to take the $102,000 level as support, and if there is pressure below this region, a support test can be made in the $97,200–$98,500 range. It was also stated that the target levels are $104,000 and $108,000 if the daily close rises above $102,000.
Potential of Solana (SOL)
Ethereum 
$3,932.2Commenting on Solana (SOL), the leading rival of , the co-founders stated that SOL is also aiming for a big rise. “If SOL breaks through the designated zone and surpasses the $235 level, it could reach the previous high target of $264,” they explained.
The fact that SOL’s daily RSI indicator is at a neutral level is considered a positive sign for the price to move upwards. It was also stated that ecosystem tokens JUP and WIF could also provide potential momentum.
Bitcoin is currently trading at $101,604 and is up 7% in the last two weeks. Solana is at $230 and increased by 0.3% on a daily basis.
“After Bitcoin rose above $100,000, the overall market sentiment remains positive,” said Jan Happel.
In light of these developments, it may be important for investors to take a look at the movements of Bitcoin and Solana in the cryptocurrency market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
