Ramazan Eles 
Crypto analyst Ali Martinez has highlighted that Bitcoin (BTC) is at a crucial turning point, emphasizing several key price levels that investors should keep an eye on.
BTC has lost nearly 5% in the last 24 hours, breaking below a significant support level at $60,000. This decline in Bitcoin has also led to a downturn in altcoins.
Martinez analyzed the recent dip in BTC, pointing out that there are four critical support levels, with Bitcoin already breaching one of them.
Bitcoin’s Price Eyes Binance Support Ali Martinez warned that the outlook for Bitcoin (BTC) is not promising, suggesting that the decline could continue. He specifically pointed to the $55,000 level as a key area to watch.
Martinez identified four major support levels that influence Bitcoin’s price:
The price zone where new whales have been accumulating: $63,450
The level where Binance users have made significant purchases: $55,540
The average cost for Bitcoin miners: $44,400
The weighted average cost for long-term BTC investors: $25,000
As Bitcoin lost the support level established by new whales, the decline began. With increasing selling pressure and a bearish market sentiment, the leading cryptocurrency pulled back to $58,800.
Martinez noted that the current price structure for BTC is weak, suggesting that the decline could continue until it reaches the support level created by Binance users. If this support is breached, two more significant levels could act as a safety net for Bitcoin.
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