Ali Martinez has determined the historical maximum of bitcoin

Bitcoin BTC $95,876.64 Bitcoin -1.10% Market capitalization $1.9 trillion VOL. 24 hours $1.42 billion is approaching a potential all-time high if it manages to overcome the key resistance level of $ 97,530. This assessment was made by the famous crypto trader Ali Martinez in his new analytical session. As of the time of publication, bitcoin is trading at $ 97,031, which is 3.3% higher than the previous day.

According to Martinez, a breakout above $ 97,530 opens the way for BTC to reach a new high of $ 114,230. This forecast is based on the MVRV indicator, the ratio of market value to realized value, which is often used to gauge market sentiment. He also notes that historically, when the MVRV crosses its annual simple moving average (SMA), it signals that the market is ready for new growth.

The analyst points to the formation of a «golden section» within the MVRV and SMA, which, according to him, traditionally precedes a strong bullish momentum. If the market dynamics change to the downside, traders should pay attention to two key support levels: $ 93,198 and $ 83,443.

Such technical indicators can be useful for traders in making decisions in the short term. Nevertheless, Martinez warns that there is a possibility that BTC will decline in value if the momentum is lost. He recommends keeping an eye on the situation and considering both scenarios.

Bitcoin, like the entire crypto market, is currently in an active phase, with both volatility and trading volumes increasing. Analysts expect further movement, but its direction will be determined in the near future, depending on the dynamics of the breakdown or rebound from these technical levels.