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Crypto Analyst: Bitcoin Price at a 'Critical Point' — What's Happening?
Bitcoin has entered 2025 on a strong note, once again approaching the $100,000 mark on its 16th anniversary. Since falling below $100,000 on December 19, 2024, the leading cryptocurrency has struggled to regain significant bullish momentum.
Currently, Bitcoin's price appears to be in a recovery phase, with an almost 5% increase over the past week. A well-known crypto analyst on the social media platform X has highlighted that Bitcoin is at a pivotal moment.
Bitcoin Price Retests 50-Day MA — What's Next?
Prominent crypto analyst Ali Martinez recently shared insights on Bitcoin's price trajectory on the X platform. According to Martinez, Bitcoin is at a "critical point" due to its interaction with the 50-day moving average (50MA) on the daily chart.
The 50-day MA is a widely used technical indicator for gauging the medium-term trend of an asset's price. Historically, for Bitcoin, the 50-day MA has acted as a significant support and resistance level.
From the current charts, Bitcoin's price had fallen below the 50-day MA but has now climbed back to retest this level. Martinez warns that if Bitcoin fails to hold above this moving average, it could face further downside. Conversely, a sustained close above the 50-day MA could negate the bearish outlook and potentially mark the end of the ongoing correction.
As of now, Bitcoin is trading at around $98,358, showing a 1% increase in the past 24 hours. According to CoinGecko, Bitcoin has gained nearly 5% over the last seven days.
Can Exchange Outflows Spark Fresh Bullish Momentum?
In another post on X, Martinez pointed out significant Bitcoin outflows from exchanges over the past week. Data from CryptoQuant reveals that more than 48,000 BTC (worth over $4.5 billion) have been withdrawn from exchanges in the last seven days.
This movement suggests a shift in investor sentiment, with many transferring their coins to non-custodial wallets, likely for long-term storage. This trend indicates growing confidence in Bitcoin's future prospects.
The increased outflows from centralized exchanges could also hint at new buying activity, as investors move their newly acquired assets off trading platforms. This behavior could be a bullish indicator for Bitcoin's price.