News
Shivdeep Dhaliwal
·
March 14, 2025
·
Benzinga
Shivdeep Dhaliwal
·
March 14, 2025
·
Benzinga
On Thursday, prominent cryptocurrency analyst Ali Martinez shared insights on Bitcoin’s (CRYPTO: BTC) potential price movements.
What Happened: The analyst urged his followers to monitor the $74,000 level closely. Sharing a weekly Bitcoin-Tether (CRYPTO: USDT) chart, he noted that losing this key support could indicate a “potential trend shift.” He noted that such a shift would be the first one since January 2023.
A sell signal occurred during the bearish trend in 2022, while a buy signal marked the start of a strong uptrend in early 2023, according to the shared chart.
Between January 2023 and now, Bitcoin has surged from $16,625.08 to over $80,000, marking a nearly 390% gain during this period.
Martinez noted, in a separate post, that long-term holders have been accumulating Bitcoin. He said that these holders have added 131,000 BTC to their wallets in the past month.
On the other hand, Ali, noted that 36,000 BTC have been withdrawn from exchanges in the 96 hours. This move is seen as a positive sign for the market, as it indicates confidence among investors who are holding onto their assets despite price volatility.
See Also: Libra Token Fallout: Argentine Lawyer Demands Extradition Of Project Creator From US
Why It Matters: The current landscape for Bitcoin is marked by significant developments and varied perspectives. Recently, President Donald Trump announced a Strategic Bitcoin Reserve, which, while initially seen as bullish, ultimately disappointed investors due to its reliance on seized assets rather than new purchases.This move reflects a shift in government attitudes toward digital assets, though its impact on Bitcoin’s price has been mixed. Additionally, regulatory clarity has been a focus, with the SEC providing relief by closing non-fraud investigations and clarifying its stance on memecoins.
Meanwhile, Bitcoin’s price has experienced volatility, dropping from an all-time high in January 2025 to recent lows below the psychologically important $80,000 level, influenced by macroeconomic factors and market sentiment.
Price Action: At the time of writing, Bitcoin was down 2.6%, trading at $81,351, according to data from Benzinga Pro.
Image via Shutterstock
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
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