Ali Martinez names the key condition for bitcoin’s record growth

Crypto analyst Ali Martinez has identified a key resistance zone for bitcoin BTC $94,101.08 Bitcoin -2.95% Market capitalization $1.86 trillion VOL. 24 hours $3.31 billion at $ 104,700−105,770, where the «supply wall» of 107,000 BTC is concentrated. He noted that the first cryptocurrency needs to overcome this barrier to reach new historical highs.

According to him, bitcoin is currently above the important support zone of $ 95,400−98,400, where more than 1.77 million addresses have purchased more than 1.53 million BTC.

Michael van de Poppe, founder of MN Trading, shares Martinez’s optimism, saying that if the $ 100,000 mark holds, we can expect new highs for the market leader.

However, Glassnode analysts note a decline in the financing rate (7 MA) from 0.026% in mid-December to neutral values below 0.01%. This, in their opinion, indicates a cautious positioning of traders who are in no hurry to increase long positions.