Experienced Analyst Explains the Levels He Follows Against the Possibility of a Correction in Bitcoin

In a recent statement, renowned cryptocurrency analyst Ali Martinez provided a comprehensive assessment of the current Bitcoin market dynamics.

According to the analyst, as the price of Bitcoin continues to climb, a significant decrease in the 'Estimated Leverage Ratio' has been observed. According to Martinez, this trend shows that investors are reducing their leverage risks and taking a more cautious approach to the crypto market despite the rise in the price of Bitcoin.

The analyst also explained some of the signs and levels he is watching for the possibility of a correction in the cryptocurrency market. Martinez pointed out that the first indication of a potential price correction would be a sustained close below $43,200. According to Martinez, if this happens, Bitcoin could potentially head towards the $37,000 value.

However, Martinez also stressed that as long as the important support level of $43,200 is maintained, the odds look in favor of the bulls. According to the analyst, this could potentially push Bitcoin to a value of $47,360.

In addition to these observations, Martinez noted that there has been a significant decrease in the number of organizations holding at least 1,000 Bitcoins. According to the data, there has been a noticeable decrease of over 1.10% in this figure in the last three days.