Ali Martinez: bitcoin risks falling to $ 52,800 if it fails to hold the resistance level

On Tuesday, November 18, the price of bitcoin BTC $91,097.03 Mezo Wrapped BTC 2.11% Market capitalization $46.63 million VOL. 24 hours $2.99 billion fell below $ 90,000, causing concern among investors and traders. According to CoinGlass, more than $ 1.8 billion has been withdrawn from the Spot Bitcoin ETF in the United States over the past four trading sessions, which has increased pressure on the market. The total capitalization of the crypto market has decreased from $ 3.25 trillion to $ 3.12 trillion.

Despite a partial recovery — as of the time of publication of the news, bitcoin was trading at around $ 91,500 — the current decline has become one of the worst fourth quarters for the asset since 2018. In November alone, bitcoin lost about 17%, and open interest in futures on CME and Binance decreased by 6% and 1.5%, respectively.

According to analyst Ali Martinez, further price declines could reach $ 75,700, $ 56,100, or even $ 52,800 if BTC consolidates below $ 98,650. Other analysts, on the other hand, see the drop as a buying opportunity. Gemini co-founder Cameron Winklevoss said that «this is the last chance to buy bitcoin for less than $ 90,000.»

At the same time, the decline in institutional interest, which was recorded due to the outflow of funds from bitcoin ETFs, is worrisome. Some experts attribute this to the fact that large investors are reallocating capital in favor of altcoins, particularly after the approval of ETFs for XRP XRP $2.14 XRP -1.07% Market capitalization $128.84 billion VOL. 24 hours $0.52 billion and Solana SOL $144.27 Binance-Peg SOL 3.97% Market capitalization $0.16 billion VOL. 24 hours $0.71 billion .

Analysts note that the market remains extremely volatile, and the risks of further fluctuations are high. At the same time, the current decline may create opportunities for investors who maintain long-term faith in bitcoin’s fundamental prospects.