Bitcoin BTC/USD has dropped 16% in the past month, leading some analysts to warn of a macro downtrend.
What Happened: Ali Martinez, a widely followed crypto chart analyst, points to several key indicators that suggest Bitcoin may be entering a bear market phase.
In an X post on Tuesday, Martinez said Bitcoin may be entering a macro downtrend, as multiple indicators signal a shift.
Large investors and miners have been actively taking profits, with miners realizing $27 million and whales cashing out over $260 million.
Capital inflows have also plummeted from $135 billion in December to just $4 billion.
Martinzez stated that key support lie in the $66,000–$69,000 range, where 750,000 investors bought 313,000 BTC.
Additional metrics, such as the UTXO Realized Price Distribution and Mayer Multiple, reinforce $66,000 and $69,354 as crucial levels.
Whether Bitcoin holds this support could determine if a full bear market unfolds.
Also Read: Bitcoin Remains Stuck In The Low $80,000s: What Does Technical Analysis Say?
What's Next: For the upcoming price targets, Martinez suggests keeping an eye on historical trends. In the past 10-years, when Bitcoin plunged below the 50-day simple moving average, it eventually touched the 200-week SMA at $46,000.
He added that with rising global liquidity, there is still hope.
This historically correlates with Bitcoin recoveries around mid-April.
Martinez predicts reclaiming $93,700 as support is likely to push Bitcoin prices towards the $111,000 mark based on price bands.
Read Next:
- What Will Happen To Bitcoin Prices If Donald Trump And Vladimir Putin Agree On A Ceasefire In Ukraine?
Image created using artificial intelligence with Midjourney.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.