Martinez Sticks to $100,000 Bitcoin Price Target Amid Ongoing Correction

Crypto analyst Ali Martinez is maintaining his $100,000 price target for Bitcoin, despite its recent market capitalization drop of $49.1 billion over the past 24 hours.

Martinez pointed out that $82,500 is a strong support level and will likely hold during the ongoing correction, based on a double bottom pattern in the BTC daily chart.

The analyst expects a potential 20.31% upside from the current price of approximately $83,120, with a choppy consolidation above $82,500 before Bitcoin's price rockets towards its all-time high.