- The next Bitcoin local top is expected at a price of $89,200.
- ETH addresses holding 10,000+ coins increased by 3% in the last 3 weeks.
- In the past 24 hours, 765,480 BTC addresses were active, which is a positive sign.
According to crypto, stock, and real estate investor Ali Martinez, Bitcoin (BTC) may soon reach a new “local top” of $89,200; a short-term price peak that often precedes a period of consolidation or decline.
This forecast, which surpasses Bitcoin’s previous all-time high of $73,000, set in March 2024. This comes in the wake of renewed bullish sentiment in the crypto market, fueled by growing network activity and institutional interest.
Martinez further highlights a positive trend in Bitcoin’s network activity. The number of daily active Bitcoin addresses has recently broken a downtrend, with 765,480 addresses active in the past 24 hours, suggesting continued bullish momentum.
Ethereum’s network also shows positive signs. Martinez observes that the number of addresses holding 10,000 or more ETH has risen 3% in the last three weeks, indicating increased buying pressure.Interest in ETH has surged since the approval of 19b-4 applications by the SEC in May. ETH has climbed 105.84% in the past year, compared to Bitcoin’s 169.85% increase, according to CoinMarketCap data.
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