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In a week marked by crypto market fluctuations, Bitcoin investors have been eagerly eyeing the charts, searching for signs of a potential bull market resurgence. Amid the recent dip, where BTC lost more than 4.2% of its value, expert crypto market analyst Ali Martinez has offered a glimmer of hope to the crypto community.
Gamza KhanzadaevMartinez, a prominent figure in the crypto sphere, has pointed to a key indicator that could signal the beginning of a bullish rally. According to the analyst, the Bitcoin Warm Supply Realized Price indicator holds the key to reigniting a bull market.
This indicator, which calculates the average price weighted by the supply of digital assets paid for by market participants, has a crucial threshold: $28,233.
The warm supply realized price represents the less active component of short-term holder supply. For Bitcoin to secure a sustained bull run, it needs to close above this critical price level. Martinez's analysis suggests that this threshold, if crossed and maintained, could pave the way for a significant upward trajectory.
As of now, crypto investors are closely monitoring the market, anticipating a decisive move that could potentially mark the end of the current bearish trend. While the recent price dip has dampened the spirits of some bullish investors, Martinez's insight offers a beacon of hope, providing a clear target for those waiting for the next market's growth wave.
While Bitcoin hovers near this crucial price point, market participants are on the edge of their seats, waiting for the digital currency to make its move.
Tomiwabold Olajide
Valeria Blokhina
Dan Burgin
U.Today Editorial Team
Vladislav Sopov