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Tether (USDT) $ 1.00
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BNB (BNB) $ 592.21
Solana (SOL) $ 133.44
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WETH (WETH) $ 1,910.61
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Story (IP) $ 5.83
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Artificial Superintelligence Alliance (FET) $ 0.513220
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
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Movement (MOVE) $ 0.449787
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Immutable (IMX) $ 0.547491
Binance Staked SOL (BNSOL) $ 138.80
Worldcoin (WLD) $ 0.867808
Rocket Pool ETH (RETH) $ 2,144.72
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Theta Network (THETA) $ 0.890220
Lido DAO (LDO) $ 0.953054
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Bonk (BONK) $ 0.000011
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PayPal USD (PYUSD) $ 0.999786
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Tether Gold (XAUT) $ 2,981.73
Tezos (XTZ) $ 0.704176
GALA (GALA) $ 0.016519
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BitTorrent (BTT) $ 0.00000070
Stargate Bridged USDC (Berachain) (USDC.E) $ 1.00
Arbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 84,015.00
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Jito (JTO) $ 2.20
Bitcoin SV (BSV) $ 33.84
IOTA (IOTA) $ 0.181485
JasmyCoin (JASMY) $ 0.013680
Kaia (KAIA) $ 0.110521
Marinade Staked SOL (MSOL) $ 169.83
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Flow (FLOW) $ 0.401827
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Golem (GLM) $ 0.292277

Analyst Reveals the Level to Be Crossed for Bitcoin Price to Change Trend to Upward

By admin On Oct 6, 2024

Cryptocurrency analyst Ali Martinez discussed a metric that he claims gives a clue as to which direction Bitcoin will head in his statement.

According to the analyst, the 200-day simple moving average (SMA) data is quite effective in determining the trend direction of BTC. Martinez stated that if the BTC price is above this metric, there is an expansion in price, while if it is below, it usually indicates a bear market.

The analyst said that the BTC price is currently below the $63,600 level, having been around $63,600 for two months, which remains a concern in terms of downward momentum in the price.

At the time of writing, Bitcoin is trading at $61,901, down 0.61% in the last 24 hours and has lost around 5% in value in the last week.

Additionally, speaking about Ethereum, the analyst reported that the number of ETH whales holding over 10,000 ETH has decreased by 7% since July.

*This is not investment advice.

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