Cryptocurrency analyst Ali Martinez warns that Bitcoin's price must hold above $97,877 to sustain the current bull market. If Bitcoin falls below this level, the bull run could be jeopardized. Despite Federal Reserve Chair Jerome Powell's statement on no further interest rate cuts, Bitcoin has surged, adding almost $4,000 to its price in the past 24 hours.
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If BTC manages to hold above it, the bull run is likely to continue, the analyst believes. If Bitcoin loses this crucial level and falls first below $97,877, and then also goes under $91,700, the entire bull market could be put in jeopardy, the expert believes.Over the past 24 hours, Satoshi Nakamoto’s brainchild, Bitcoin, has staged an increase that added almost $4,000 to its price, taking it from $101,764 to $105,442.
He said that he would create a Strategic Bitcoin Reserve and that BTC may even help the U.S. reduce its national debt. Now, Bitcoin maximalists insist that only BTC should be included in this potential crypto reserve. At the same time, supporters of other coins, including Ripple CEO Brad Garlinghouse, say that it should be a multi-coin reserve.
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