Bitcoin is poised for new heights, according to the co-founders of crypto analytics platform Glassnode. Jan Happel and Yann Allemann, known as Negentropic, have informed their 63,200 followers on social media that Bitcoin is currently in a battle to reach $69,000. They have shared a chart indicating that Bitcoin has already surpassed its diagonal resistance, which has kept the cryptocurrency bearish since March. This breakthrough suggests that Bitcoin could rally to its all-time high of $74,000 and potentially even higher. Happel and Allemann also believe that the upcoming US presidential election could serve as a catalyst for Bitcoin’s rise, triggering fear of missing out (FOMO) among investors. They note that a Trump victory could create FOMO, but emphasize that it would not be the sole reason for Bitcoin’s price increase. They also express caution in trusting politicians’ promises during an election campaign. Despite this, they state that if FOMO leads to a “Trump pump,” they would not complain. Happel and Allemann further analyze Bitcoin’s on-chain data and conclude that it is gathering bullish momentum with low-risk readings. As of now, Bitcoin is trading at $69,219, representing a 1% increase for the day.