Could On-Chain Data Trigger a New Bull Run in Bitcoin, Ethereum and Solana?

September 12, 2025

Glassnode Co-Founders Suggest Bitcoin, Ethereum and Solana Could Hit New All-Time Highs Within Weeks

Glassnode, a prominent blockchain analytics firm, has sparked significant market interest with recent statements from its co-founders, suggesting that Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) may soon reach new all-time highs. The predictions, made amid a resurgence in macroeconomic optimism and a bullish shift in on-chain metrics, have drawn attention from institutional and retail investors alike.

According to the firm’s analysis, several key on-chain indicators point toward an upward trend in the coming weeks. These include rising exchange outflows, declining short interest, and increased network activity across all three blockchains. Glassnode’s data highlights that Bitcoin’s 30-day net inflow has surged to its highest level in over a year, signaling strong accumulation by long-term holders. For Ethereum, the firm notes a sharp decline in the number of low-balance wallets, a trend historically associated with price consolidation and subsequent breakout movements.

Solana, while a smaller market cap asset compared to Bitcoin and Ethereum, has also shown signs of institutional adoption. Glassnode reports that Solana’s on-chain metrics, particularly in terms of smart contract usage and developer activity, have outpaced expectations. The firm attributes this to Solana’s high throughput and low fees, which make it increasingly attractive for decentralized applications (dApps) and DeFi platforms.

Glassnode’s co-founders caution, however, that while the fundamentals appear strong, the crypto market remains highly speculative. They emphasize that the timing and magnitude of any potential price surges will depend on external factors such as regulatory developments and macroeconomic conditions, including interest rate decisions from the U.S. Federal Reserve.

The firm’s projections align with recent analyst forecasts that have identified the current market phase as a potential inflection point for the broader digital asset class. Several macroeconomic reports indicate that global liquidity is returning to risk assets, and the U.S. dollar has weakened slightly, a common precursor to crypto price cycles.

While Glassnode’s predictions are based on rigorous on-chain data analysis and historical price correlations, they do not guarantee market outcomes. Investors are advised to consider the volatile nature of the crypto market and to conduct due diligence before making any investment decisions. The firm also notes that alternative narratives, such as a potential market correction or a shift in investor sentiment, remain possible should unexpected macroeconomic events occur.

As the market watches for the next moves, Glassnode’s insights offer a compelling narrative rooted in data, but the ultimate test will be how the price action unfolds in the coming weeks. The firm has committed to updating its analysis in real-time, allowing investors to track the validity of its predictions as new data becomes available.