Ali Martinez: Bitcoin has the potential to grow to $ 131,200

Bitcoin BTC $116,637.49 Bitcoin -2.03% Market capitalization $2.32 trillion VOL. 24 hours $2.4 billion remains in the spotlight of financial markets after reaching a new all-time high of more than $ 123,000 and becoming one of the five largest assets by market capitalization. Ali Martinez, a well-known crypto analyst, believes that if the support at $ 117,400 is maintained, bitcoin has the potential for further growth to $ 131,200.

According to the analyst, bitcoin is currently under pressure from technical resistance in the range of $ 118,500-$ 123,000. If the coin breaks through this level, it could see accelerated growth up to $ 135,000. At the same time, according to technical indicators, the current dynamics indicate a possible short-term consolidation or correction: the MACD histogram has moved into the negative zone, which indicates a weakening of the momentum.

In addition, the analyst draws attention to the role of capital inflows into crypto-ETFs and the growth of corporate demand, which can become a catalyst for further price increases. If the resistance near $ 123,000 is not overcome, a decline to the support level of $ 115,000 is not excluded.

In a parallel forecast, Martinez notes the possibility of Ethereum’s breakout to $ 10,000, provided it is confidently consolidated above $ 4,000. Nevertheless, the long-term «parallel channel» with an upper limit, which has repeatedly become a barrier to further growth, remains crucial for ETH.

In general, the current situation for the bitcoin market remains uncertain: there is a possibility of a breakout to $ 131,000, but the further trend will depend on macroeconomic and technical factors, as well as investor sentiment.