Crypto strategist Ali Martinez is raising concerns that Bitcoin (BTC) may have reached its peak in the current bull market.
Realized Profits Surge
Martinez points out that when Bitcoin recently hit an all-time high of over $73,000, realized profits (gains converted to cash) also reached a record level. This has historically coincided with Bitcoin market tops.
Confirmation Needed
Martinez says he needs another signal to confirm his bearish view. A sustained close below the “short-term holder realized price” of $59,800 could be such a confirmation.
Key Price Level to Watch
However, if Bitcoin can regain and hold support above $66,250, it will invalidate Martinez’s bearish outlook. This would pave the way for a potential rally towards $92,190.
Current Market Situation
At the time of writing, Bitcoin is trading at $60,543, down over 5% in the past 24 hours.
