Cryptocurrency analyst Ali Martinez shared his views on Bitcoin, Dogecoin, and the general market in his latest statements today.
Starting with Dogecoin, the analyst wrote a bullish scenario for DOGE. According to the analyst, the number of large-scale transactions on the Dogecoin network continues to rise, which could mean that institutional investors and DOGE whales are potentially positioned for a rally.
In addition, Martinez drew attention to a little-talked-about metric about Bitcoin. According to the analyst, the BTC price has been trading lower than short-term investors’ realized prices since June 2022.
According to the analyst, as long as the BTC price remains below this level, short-term investors may sell to avoid further losses and trigger a sell-off. According to the analyst, this level is located at $63,000 and should be followed carefully.
At the time of writing, the BTC price is at $62,083, which is close to the level Martinez mentioned, although it is lower.
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/ali-martinez-assesses-the-state-of-bitcoin-and-dogecoin-what-to-expect/