Bitcoin Has 'High Probability' Of Crashing Below $60,000 If It Stays Below This Level, Says Analyst, But The Fall Could Be Even Steeper

A renowned cryptocurrency analyst shared a cautious perspective on Bitcoin’s (CRYPTO: BTC) price on Sunday, hinting at a sharp drop from the current levels.Big Drawdown Incoming For BTC?Ali Martinez, known for scrutinizing chart patterns on-chain signals, said in an X post that if Bitcoin continues to trade below the Short-Term Holder Realized Price of $111,937, there’s a higher likelihood of it moving toward the Realized Price at $56,145 or even the Long-Term Holder Realized Price at $37,815.The Short-Term Holder Realized Price, or STH, represents the average cost price of investors who have held their coins for less than 155 days, according to Glassnode. Similarly, the Long-Term Holder Realized Price is the average cost price of Bitcoin older than 155 days. These indicators often act as key resistance and support levels for Bitcoin.The longer Bitcoin ...Full story available on Benzinga.com