It is with a heavy heart, dear reader, that we witness the fall of the mighty Bitcoin, whose price, once a beacon of hope, now teeters on the precipice of despair, as it has lost its critical support line, threatening to plunge below the ominous threshold of $110,000. 📉
In a new thread, crypto trader Ali Martinez, that paragon of wisdom, addresses his 145,400 followers on the social media platform X, warning that Bitcoin may yet fall further, its value diminishing by more than 7%, as it mirrors the tumult of the broader financial world. 🧠
The crypto analyst, ever the scholar, examines the Unspent Transaction Output (UTXO) Realized Price Distribution (URPD) model, a labyrinthine tool to discern the key support levels. The UTXO, that most enigmatic of metrics, tracks the number of existing coins that last moved within a given price range. 🧩
“Bitcoin has lost the critical $116,950 support. All eyes now on the next major level at $107,000.” So declares the prophet of the crypto realm, as if the market itself were a fickle lover. 💔
At the time of this writing, Bitcoin trades at a measly $115,156, a 2.6% drop in the last 24 hours—proof that even the most steadfast assets can falter. 🕊️
Next, the analyst turns his gaze to Ethereum’s rival, Cardano (ADA), which, he claims, is poised to repeat the bull pattern of 2020-2021, though with a slower, more deliberate pace. “It feels like we’re right at the beginning of an explosive move,” he quips, as if predicting the future were a game of chess. 🎲
“Cardano is showing the same price structure as the last cycle, only this time, it’s unfolding more gradually. And it feels like we’re right at the beginning of an explosive move.” Oh, how the hopeful cling to such words! 🌟
ADA, now trading at $0.73, has fallen 3.8% in the last day—proof that even the most promising projects can stumble. 🚶♂️
Turning to Chainlink, the analyst prophesies that LINK will ascend to $44.50 by year’s end, provided it remains above the $13 support level. “No reason to be bearish just yet,” he says, as if optimism were a currency. 💸
“As long as Chainlink holds above the $13 support level, the bullish outlook remains intact. No reason to be bearish just yet.” A sentiment as fleeting as the market itself. 🌀
LINK, currently at $16.68, has dipped 5.1%—a reminder that even the most robust chains can fray. 🧵
Next, the analyst warns of Filecoin (FIL), which, having lost key support levels, may plummet further. “It appears to be breaking out of a channel, potentially eyeing a move to $0.89,” he writes, as if the market were a beast to be tamed. 🐉
“Filecoin appears to be breaking out of a channel, potentially eyeing a move to $0.89.” A prediction as certain as the rising sun… or a bubble bursting. 🌅
FIL, trading at $2.36, has fallen 4.6%—a testament to the fickle nature of the market. 🌀
Lastly, the analyst cautions that Pepe (PEPE), that most erratic of memecoins, may face a “massive correction” if it fails to reclaim a key support level. “It needs to reclaim $0.0000118 as support to avoid a potential drop to $0.0000097!” he declares, as if the fate of the universe depended on it. 🌍
“PEPE needs to reclaim $0.0000118 as support to avoid a potential drop to $0.0000097!” A warning as dire as a doomsday clock. ⏳
PEPE, trading at $0.00001072, has fallen 4.6%—a reminder that even the silliest of coins can suffer. 🤡
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2025-08-01 21:33