Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said in a tweet on July 29 that “Fed Chairman Jerome Powell’s “meeting by meeting” comment may mark the pivot for Bitcoin” to outperform most assets.
He's talking like only the US economy decides the fate of bitcoin. There's no other markets around the world and this Jerome dude is going to be telling us what to do with our money in Europe, Asia, Africa... All of those people is going to sell because Jerome says so and buy when Jerome stops pumping the dollar, even though they don't have any dollars.
Glassnode cited several on-chain metrics and said in the weekly on-chain newsletter titled “Beginnings of a Bear Market Rally” that the rise in Bitcoin and Ethereum is not supported by strong transactional demand and “this rally has not yet seen a convincing follow through in observable demand activity.”
In early Spring, Glassnode was talking about a large accumulation from investors and a possible bottom at 40k, above the 2021 30k bottom. They were pointing at possible higher high after that bottom.
Unfortunately they did not foresee the war in Ukraine and the Luna bankruptcy. They also did not expect Tesla to sell and so on.
Bottom line, the price doesn't move because glassnode or some bloomberg analyst sees a pattern. It moves because a lot of people come and buy and this doesn't have to be a gradual increase, just like the drop from 40k wasn't a gradual decrease. It just happened one day and nobody was able to write a piece about it before it happened.