Major Bullish Signal for Bitcoin: Analyst Explains Why BTC Could Explode Soon

The primary cryptocurrency has climbed roughly 20% over the past month, and Ali Martinez suggests an even stronger upward move may be on the horizon. In contrast, other analysts believe the bear market is far from over and predict a major short-term price drop.

Will History Repeat Itself? Bitcoin has hovered between $78,000 and $80,000 over the last few days and is currently trading near the middle of that range.

According to Martinez, the leading digital asset recently reclaimed its Warm Supply Realized Price, a metric that tracks BTC’s average cost basis over the past one week to six months. The analyst noted that the previous four such developments were followed by impressive rallies.

In October 2023, for example, BTC exploded almost 160% after reclaiming that level, and a year later, it pumped 74%. X user Crypto Rover presented another bullish signal.