Bitcoin Price At Risk Of Further Correction – Here’s How

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A popular crypto analyst has explained how the Bitcoin price could be at risk of further downside based on the current distribution of BTC supply around the price.

In a recent post on the X platform, prominent crypto pundit Ali Martinez discussed how the price of Bitcoin could suffer more decline. The rationale behind this bearish projection revolves around the average cost basis of several BTC investors.

Data from IntoTheBlock shows that around 5.45 million addresses purchased approximately 3.03 million BTC within the price range of $64,300 and $70,800. As highlighted by Martinez, this has led to the formation of a crucial supply barrier within this price bracket.

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