The Bitcoin (BTC) price chart suggests a potential drop of almost 45%, according to trader and on-chain analyst Ali Martinez. BTC is currently trading below its crucial 200-day moving average of $64,000, and if it drops further, history indicates that sharp price declines are likely. Martinez predicts that BTC could dip to its realized price of $31,500. Currently, BTC is trading at $58,333, reflecting sideways movement and bearish sentiment in the market. The decreasing trading volume and consolidation phase for BTC and other coins like Ethereum (ETH) indicate a lack of interest and confidence among investors.
- Content Editor ( u.today )
- 2024-09-13
Bitcoin to $31,500? Chart Hints at Potential BTC Price Drop