The co-founders of a top crypto data analytics firm say that a reliable Bitcoin (BTC<\/a>) indicator is signaling bullish moves for BTC.<\/p>\n Glassnode co-founders Jan Happel and Yann Allemann, who share the Negentropic handle on the social media platform X,\u00a0tell<\/a>\u00a0their followers that BTC\u2019s market demand is outpacing its supply.<\/p>\n Additionally, the Bitcoin network recently saw 700,000 new addresses created in just one day, which the analysts say is one of the top indicators for future price movements.<\/p>\n \u201cBitcoin\u2019s market demand has outpaced its supply, a clear sign of robust positive momentum.\u00a0<\/em><\/p>\n In just one day, a whopping 700,000 new BTC addresses joined the network. This expansion is considered one of the most reliable indicators for price predictions.<\/em><\/p>\n With fewer BTC coins currently in circulation, buyers might need to increase their bids to have their orders executed promptly.\u201d<\/em><\/p>\n In a further analysis in a\u00a0blog post<\/a>, the co-founders say that with BTC going so fast, buyers will need to increase their bids, possibly driving the price of BTC up.<\/p>\n \u201cBecause there are fewer BTC coins available right now, purchasers may have to raise their bids to get their orders filled fast. This could unwittingly boost the BTC price above $40,000 soon.\u201d<\/em><\/p>\n BTC is worth $34,675 at time of writing.<\/p>\n Following up on what\u2019s next for altcoins, the Glassnode co-founders\u00a0say<\/a>\u00a0decentralized finance (DeFi) and layer-1 tokens are blazing a comeback trail.<\/p>\n \u201cAltcoins\u2019 Higher Beta Points to Potential for Elevated Gains Against Bitcoin\u2019s Stability<\/em><\/p>\n INTRO: As BTC stabilizes, the spotlight turns to altcoins for potentially higher returns, thanks to their volatility.\u00a0<\/em><\/p>\n MAIN: Solana leads the charge with XRP and Cardano on its heels, showcasing impressive growth and investor interest.\u00a0<\/em><\/p>\n CONCLUSION: This week\u2019s rotation is clear: as BTC and ETH plateau, DeFi and Layer 1 tokens are bouncing back with vigor.\u201d<\/em><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
\n
\nCheck Price Action<\/a><\/span><\/em>
\n
\nFollow us on Twitter<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>
\n
\nSurf The Daily Hodl Mix<\/a><\/span><\/em>
\n<\/p>\n
![\"\"](\"https:\/\/pbs.twimg.com\/media\/F-U2N1TXIAAH7Ig?format=jpg&name=medium\")
![](\"https:\/\/dailyhodl.com\/wp-content\/uploads\/2018\/06\/Get-Alerts-728x90.png\")
<\/p>\n