Analyst warns: “Bitcoin will break a record if it exceeds this level”

Crypto analyst Ali Martinez stated that the Bitcoin (BTC) price must overcome a significant resistance level in order to reach record levels.

Addressing his followers via X, Martinez emphasized that the outlook in BTC does not create appetite. Martinez reported that the positive BTC is approaching a significant breakout. According to the analysis, the BTC price will continue to rise if it can stay above $ 67,400. Martinez thinks that BTC will reach $ 86,600 if it achieves this breakout.

Martinez stated that investors should closely follow the $BTC price. Uncertainty has emerged in the crypto market, which has been hosting increases for several weeks. Analysts argued that BTC must overcome significant resistance points in order to continue its rise. Many opinions insisted that a correction could be seen in the market at any time.

Crypto expert Ali Martinez shared on X that BTC is in the final phase of its consolidation phase. According to the chart, BTC, which has ended its accumulation phase, will enter a new cycle. The phase called the peak cycle was last seen in March 2024. On that date, the $BTC price reached its all-time high.

Martinez stated that the trend in $BTC is positive, but a small correction can be seen at any time. The analyst attributed the potential decline to market sentiment. Making a statement on X, Martinez noted the following;

“During the past seven months, BTC fell during the period when crypto investors were most FOMO (concern about missing out on the rise). The data in question has resurfaced. Be cautious!“

The chart shows that price declines occurred when FOMO peaked. The chart draws attention to the selling pressure that profit sales can create.

Sharing remarkable data for BTC, which is at a critical turning point, Martinez noted the following;

“Over the last eight months, 400,000 BTC worth approximately $24 billion has been withdrawn from centralized exchanges.”

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