Famous cryptocurrency analyst Ali Martinez shared analyzes including his thoughts about Bitcoin and the general cryptocurrency market in his statement.
According to the analyst, the simple moving average ratio in the ETH/BTC parity has moved above 365, which, according to his claim, seems to be an early sign of an altcoin season.
In addition, the analyst also touched upon the fear and greed index for Bitcoin and commented that this index is currently on the fear side with 30. According to the analyst, although this index is on the fear side, the BTC price jumps at the least expected moments.
Continuing his comments on Bitcoin, Martinez stated that 14,000 BTCs were sent to cryptocurrency exchanges in the last four days, which means a transfer of 851 million dollars. This is one of the factors that reveals the fear situation in BTC.
However, Martinez said that although the cryptocurrency market sent such large amounts of coins to exchanges, a Bitcoin whale made purchases while the BTC price had bottomed. He stated that this created a jump in BTC's buying/selling rate.
According to the analyst, individual BTC investors are also making a comeback to the market. The number of new BTC addresses on the network increased to 352,124, the highest level since April.
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*This is not investment advice.
