Top Analyst Shares His Forecast for Bitcoin and the Altcoin markets
01.07.2024 10:30 1 min. read Alexander Stefanov
Renowned analyst Ali Martinez recently shared his views on Bitcoin and the broader cryptocurrency market.
Martinez highlighted that the simple moving average in the ETH/BTC ratio has exceeded 365, which he interprets as an early indicator of the upcoming altcoin season.
However, the analyst highlighted that the price of the leading cryptocurrency often rises when least expected.
Continuing his Bitcoin analysis, Martinez revealed that 14,000 BTC has been transferred on crypto exchanges in the past four days, which equates to approximately $851 million.
The expert noted that despite these large transfers, the Bitcoin kitty has made significant purchases when the price was in its low ranges, which has caused the buy/sell ratio for BTC to rise.
Additionally, Martinez highlighted a resurgence of individual investors in Bitcoin. The number of new BTC addresses on the network has risen to 352,124, marking its highest level since April.
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