Analyst Identifies Macro Price Floor for Bitcoin
Prominent cryptocurrency analyst Ali Martinez has identified what he calls the 'Ultimate Support' level for Bitcoin (BTC). As reported by Benzinga, Martinez referenced the Cumulative Value Days Destroyed (CVDD) indicator, a metric tracking long-term holder activity, to determine a macro price floor for the asset.
According to Martinez, Bitcoin's structural foundation currently sits at $47,960, meaning the asset would need to drop by another 30% to reach this level. He stated, "Historically, Bitcoin rarely spends much time near this line before a major reversal. This is the structural foundation of the entire market."
Long-Term Holders and Market Structure
The CVDD indicator measures the selling activity of long-term Bitcoin holders—or so-called "diamond hands"—including how much BTC they move and for how long they have held it. Martinez's analysis suggests that this cohort's behavior is critical for identifying major support levels.
Technical Indicators and Market Sentiment
Benzinga's coverage also notes that other key technical indicators provide a mixed picture for Bitcoin. The Puell Multiple, which tracks miner selling pressure, remained well below its "historical buy zones," while the Moving Average Convergence Divergence (MACD) flashed a "Buy" signal. The Relative Strength Index (RSI) and Bull Bear Power indicators showed neutral readings. Meanwhile, data pointed to bearish sentiment among whales on Binance’s derivatives market, with short positions dominating longs at the time Martinez's support analysis was published.
Market Context and Recent Price Action
At the time of writing, BTC was trading at $69,095.49, up 3.28% over 24 hours, according to Benzinga Pro. The ultimate support call coincided with elevated market uncertainty amid global geopolitical tensions, which have influenced price swings and trader sentiment.
Stocks365 Take
Ali Martinez's identification of a macro support zone for Bitcoin—anchored to long-term holder activity—is a significant signal for active traders. Technical and on-chain evidence suggest $47,960 is a potential reversal area if market pressure intensifies. While Martinez's view doesn't guarantee a floor, price action as BTC approaches this level—and the reaction of long-term holders—warrants close monitoring for directional cues.
