The next Bitcoin local top is expected at a price of $89,200.
ETH addresses holding 10,000+ coins increased by 3% in the last 3 weeks.
In the past 24 hours, 765,480 BTC addresses were active, which is a positive sign.
According to crypto, stock, and real estate investor Ali Martinez, Bitcoin (BTC) may soon reach a new “local top” of $89,200; a short-term price peak that often precedes a period of consolidation or decline.
This forecast, which surpasses Bitcoin’s previous all-time high of $73,000, set in March 2024. This comes in the wake of renewed bullish sentiment in the crypto market, fueled by growing network activity and institutional interest.
Martinez further highlights a positive trend in Bitcoin’s network activity. The number of daily active Bitcoin addresses has recently broken a downtrend, with 765,480 addresses active in the past 24 hours, suggesting continued bullish momentum.
The number of daily #Bitcoin addresses has broken a downtrend that started on March 5! In the past 24 hours, 765,480 $BTC addresses were active. This surge in network activity is a positive sign that the #BTC bull run will continue. pic.twitter.com/S2Ih2FSrt5
— Ali (@ali_charts) June 9, 2024
Ethereum’s network also shows positive signs. Martinez observes that the number of addresses holding 10,000 or more ETH has risen 3% in the last three weeks, indicating increased buying pressure.Interest in ETH has surged since the approval of 19b-4 applications by the SEC in May. ETH has climbed 105.84% in the past year, compared to Bitcoin’s 169.85% increase, according to CoinMarketCap data.
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