BTC is hovering at $88,000, but the bulls wait further north.
Analysts are now debating whether the bear market has begun or if this is another typical correction during bull cycles. Ali Martinez believes that BTC needs to regain one key level to reignite the bull phase.
$101,840 must be recovered
In a recent post on X, the analyst has over 160,000 followers claimed that the primary cryptocurrency must rise past the short-term holder’s realized price to become bullish. According to his data, that level is close to $102,000, which would require a 15-6% increase from current levels.
Merlijn The Trader also weighed in on BTC’s price performance lately, but focused on another technical tool: the Relative Strength Index. The metric has dipped deep below 30, which is widely considered oversold territory, and has remained there for about three weeks.
The analyst claimed that the RSI could remain oversold or overbought for a while if the market is trending, which it is now. He noted that in such specific scenarios, BTC trades sideways for 20 to 25 days, and that the asset has now crossed the 20-day mark. Therefore, he predicted that this slowdown is about to end and that Bitcoin’s next move will be an “explosive leap.”
BITCOIN RSI ONLY REACHES THE SWEET SPOT.
Every time the RSI drops below 30: grind sideways into explosive bounce.
The average delay: ~25 days.We are on day 20.
History says the advantage is the following.You’re either early…
Or you’re too late. pic.twitter.com/EgZNR2QqML— Merlijn The Trader (@MerlijnTrader) December 19, 2025
The disadvantage
It’s not all rainbows and sunshine, though. Further data from Martinez shows that the one-year change in average whale ownership of BTC has fallen by more than 160,000 units. He explained that these major market participants have been net sellers over the past year, which “usually comes to light before or during deeper corrections, not after bottoms.”
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The spot Bitcoin ETFs have also seen a significant exodus of investors lately, with nearly $500 million worth of funds left alone in the past week. Martinez also warned that if BTC loses the support at $83,300, there is a risk that it will fall all the way to $63,000. For now, however, that line of defense has managed to hold back the asset’s price corrections.
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