[A critical moment for Bitcoin and Ethereum: Senior analyst Ali Martinez assesses recent developments]
Cryptocurrency analyst Ali Martinez recently discussed market dynamics. He noted that Ethereum prices continue to fall, with a key support area between $2,300 and $2,380, with approximately 1.62 million addresses purchasing more than 50 million ETH in this area. Additionally, the TD Sequential indicator is sending a bearish signal on the hourly chart of ETH, which could lead to a short-term pullback.
Regarding Bitcoin, Martinez said that the process of Bitcoin turning from a bull market to a bear market usually occurs when the MVRV value falls below the 1-year simple moving average. He mentioned that after Bitcoin price fell below $61,500, many traders were in the red, which may have triggered selling pressure. Over the past two weeks, Bitcoin and Ethereum funding flows have fallen from $20 billion to $14 billion.
