Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Veteran Analyst Reveals Most Important Price Level for Bitcoin Based on Whales’ Buying Pattern

Veteran Analyst Reveals Most Important Price Level for Bitcoin Based on Whales’ Buying Pattern

BitcoinsistemiBitcoinsistemi2024/08/26 21:15
By:Mete Demiralp

Cryptocurrency analyst Ali Martinez shared the levels he considers important for Bitcoin (BTC) in his statement.

Ali Martinez, one of the important analysts of the cryptocurrency market, made a statement about his expectations for Bitcoin in light of the recent developments.

Martinez also touched on the price levels he considers important regarding Bitcoin, which is trading at $63,551 at the time of writing.

According to the analyst, when the purchasing patterns of new cryptocurrency whales are examined, the $63,450 level is of critical importance.

On the other hand, when the behavior of users on the cryptocurrency exchange Binance is examined, he stated that the $ 55,450 level is important.

Related News Two Massive Institutional Investors Sold Big on a Cryptocurrency Today: Decline Followed

Thirdly, the analyst stated that the $44,400 level is of critical importance when examining the purchasing and mining activities of Bitcoin miners.

Finally, Ali Martinez said that in a truly severe bear market scenario, the $25,000 level is noteworthy according to long-term investors’ buying patterns.

In addition, Martinez claimed that the BTC price is trading in a parallel channel on the lower time frame charts. According to the analyst, if the BTC price manages to hold the $63,500 level, a jump to $64,200 or even $64,800 could occur. However, the analyst said that if the $63,500 level is broken, a drop to $62,800 may be on the horizon.

*This is not investment advice.

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

A decade-long tug-of-war ends: "Crypto Market Structure Bill" sprints to the Senate

At the Blockchain Association Policy Summit, U.S. Senators Gillibrand and Lummis stated that the "Crypto Market Structure Bill" is expected to have its draft released by the end of this week, with revisions and hearings scheduled for next week. The bill aims to establish clear boundaries for digital assets by adopting a classification-based regulatory framework, clearly distinguishing between digital commodities and digital securities, and providing a pathway for exemptions for mature blockchains to ensure that regulation does not stifle technological progress. The bill also requires digital commodity trading platforms to register with the CFTC and establishes a joint advisory committee to prevent regulatory gaps or overlapping oversight. Summary generated by Mars AI. The accuracy and completeness of this summary, generated by the Mars AI model, is still being iteratively updated.

MarsBit2025/12/12 11:17
A decade-long tug-of-war ends: "Crypto Market Structure Bill" sprints to the Senate

Gold surpasses the $4,310 mark—Is the "bull frenzy" returning?

Boosted by expectations of further easing from the Federal Reserve, gold has risen for four consecutive days. Technical indicators show strong bullish signals, but there remains one more hurdle before reaching a new all-time high.

Jin102025/12/12 11:11
Gold surpasses the $4,310 mark—Is the "bull frenzy" returning?

Trend Research: Why Are We Still Bullish on ETH?

Against the backdrop of relatively accommodative expectations in both China and the US, which suppress asset downside volatility, and with extreme fear and capital sentiment not yet fully recovered, ETH remains in a favorable "buy zone."

深潮2025/12/12 10:15
Trend Research: Why Are We Still Bullish on ETH?
© 2025 Bitget