Bitcoin Bulls Emerge as Rare Bullish Divergence Returns
Bitcoin's current market structure bears an uncanny resemblance to a defining period in its history. According to crypto analyst Ali Martinez, the asset may have already formed its market bottom after a bullish divergence reappeared between BTC's price and Net Capital Flows.
The same signal that identified the previous cycle low has returned, Martinez said, pointing to a potential rally from around $15,000 to eventually reach $126,000. The SuperTrend indicator had also flashed a buy signal earlier.
Other analysts concur with Martinez's view, including Doctor Profit, who sees the $64,000-$54,000 range as a buying opportunity rather than trying to time the precise low.
However, not everyone shares this optimism. CryptoQuant's Julio Moreno warns that it is still too early to make a bottom call, citing the Estimated Leverage Ratio (ELR) on Binance, which has climbed to around 0.22, its highest level of the current cycle.