The Bitcoin (BTC) market experienced a major correction at the beginning of this month. Especially between 1-5 February, the market has declined by 5.62 %. In this process, Bitcoin has not yet survived the effect of this correction. In the last seven days, the price of BTC decreased by about 1.9 %. Famous analyst Ali Martinez says that if Bitcoin drops below $ 92.110, the price may decrease to $ 70,000. Currently, Bitcoin’s price is at $ 96,037 and is on a critical threshold.

Will Bitcoin exceed $ 97,530?

Bitcoin experienced a rapid decline from $ 101,333 to $ 96.607 between 4-5 February. Since February 6, the price has been stuck between 97,896 and $ 95,791. Ali Martinez says that the level of $ 97,530 is an important resistance point.

Exceeding this level can trigger a strong rise trend in Bitcoin. If this resistance breaks, buyers are expected to show more interest to the market. However, if the resistance continues at the current levels, fluctuations may continue to continue in this price range. Therefore, investors should follow this critical level carefully.

Weak support below $ 92.110

Bitcoin reached the lowest closing level of the year on January 9, and the price remained at $ 92,569. On February 3, it fell to $ 91.238 for a short time. Ali Martinez points out that this level is a weak support point for the market.

If this level of support is lowered, the sales pressure will increase and the price may fall quickly. In particular, this level is a critical region that buyers should strongly defend. Loss of support can cause significant risks for investors.

Dangerous price gap between 90.000 and 70,000 dollars

According to Ali Martinez’s analysis, there is a serious price gap between $ 90,000 and 70,000. This gap shows that if Bitcoin drops below $ 90,000, the price may quickly decline to $ 70,000.

On January 13, the price of Bitcoin fell to $ 89.305, but with the introduction of buyers, the price recovered for $ 94,545 at the closing. Although this recovery proves that buyers are still active in the market, the risk of decrease is not completely eliminated. How Bitcoin will move at these levels will be decisive for the future of the market.