Cryptocurrency analyst Ali Martinez drew attention to the current situation of Bitcoin and its critical price levels in his statement.
According to the analyst, after the halving, the fees paid to Bitcoin miners increased to 1,258 BTC, but the number of newly created BTC addresses decreased and reached only 260,838.
According to the analyst, the BTC price currently wants to dominate the $ 66,000 level, and in previous cycles, 1.54 million addresses bought 747,000 BTC around this level. According to the analyst, if this important level is exceeded, the next critical resistance level for Bitcoin price will be between $69,900 and $71,200.
In addition, Martinez said that, in his words, the amount of “eligible BTC” that could enter circulation dropped to 4.6 million for the first time before this halving cycle. According to the analyst, the term “eligible BTC” describes the difference between BTC’s current circulating supply of 19.68 million BTC and the illiquid supply of Bitcoins that are largely unavailable for trading due to being in lost wallets, stuck in very long-term investments, or otherwise locked up. represents.
The analyst commented on the importance of this term as follows:
“Why is this important? The halving further reduces miner rewards, accelerating new BTC rarity. “As supply tightens and even if demand remains the same, we can expect a significant impact on prices.”
*This is not investment advice.
