Analyst will sell everything and go all-in on Bitcoin at this price: details

Analyst will sell everything and go all-in on Bitcoin at this price: details

BTC is down over 30% from October’s ATH, but one analyst expects more losses.

The past week has only strengthened Bitcoin’s otherwise bearish sentiment that started in early October, with the value falling to $81,000, which was the lowest level since December.

While some reports indicate that whales have re-entered the BTC ecosystem in their biggest buying spree in two years, one popular analyst believes there are more downside risks for the cryptocurrency.

As such, he outlined his goal where he plans to “sell everything” and go all-in on BTC. And that target, according to Ali Martinez, is $45,163, which is the lowest level on the 3-day chart he posted at X.

Before that, Martinez outlined the following significant support levels for BTC in case the correction continues. The first is around $76,000, followed by $56,200, and $53,000 if the first two give in.

The cryptocurrency’s decline over the past week was largely attributed to rising geopolitical tension, this time between Iran and the US, as the latter’s president ordered a large naval fleet to move closer to the Middle Eastern country.

Moreover, the US Federal Reserve has halted its interest rate cut policy, which would also be bearish for risky assets.

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Wall Street investors who use spot BTC ETFs to gain exposure to the assets have seemingly turned away, raising about $1.5 billion in the past week. Thursday was the worst day in a long time: more than $800 million was out of the fund that day.

Cumulative net inflows have fallen to $55 billion, showing a decline of $3 billion since mid-January.

Bitcoin ETF flows. Source: SoSoValue
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