Cryptocurrency analyst Ali Martinez has highlighted potential threats to the current Bitcoin bull market by identifying critical levels that must not be crossed by bears.
Critical Bitcoin Levels
Ali Martinez revealed that a significant amount of Bitcoin has accumulated at the $97,877 level. If Bitcoin holds above this level, the bull run could continue. However, a fall below $97,877 and $91,700 could jeopardize the entire market.
Bitcoin's Rise Despite Fed
Bitcoin has increased nearly $4,000 in the past 24 hours, reaching $105,442, despite Fed Chairman Jerome Powell's remarks that no further rate cuts are planned. The price reflected growth amid the global economic landscape affected by rate changes.
Debates Over US Crypto Reserve
Heated debates are ongoing about the potential creation of a Strategic Bitcoin Reserve in the US. During his campaign, Donald Trump promised to focus on Bitcoin and make the US a leading crypto hub.
These incidents highlight significant aspects that might influence Bitcoin market dynamics and future US cryptocurrency policies.
