Bitcoin (BTC<\/a>) has been flying off exchanges as the digital asset market tracks sideways, according to a popular crypto analyst.<\/p>\n The trader Ali Martinez tells<\/a> his 63,700 followers on the social media platform X that approximately 22,647 BTC worth more than $1.57 billion were withdrawn from crypto exchanges in a recent seven-day period.<\/p>\n Martinez also notes<\/a> that the number of daily Bitcoin addresses recently broke a downtrend that started on March 5th.<\/p>\n \u201cIn [24 hours], 765,480 BTC addresses were active. This surge in network activity is a positive sign that the BTC bull run will continue.\u201d<\/em><\/p>\n The analyst says<\/a> that Bitcoin is \u201canchored in a strong support zone\u201d between $69,380 and $67,350. In that price range, 1.97 million addresses bought 964,000 BTC.<\/p>\n Explains Martinez,<\/p>\n \u201cHolding this level is crucial for BTC to sustain its upward momentum.\u201d<\/em><\/p>\n The trader also examines Bitcoin\u2019s cumulative value-days destroyed (CVDD). The coin days destroyed metric\u00a0looks<\/a>\u00a0at the value of each Bitcoin transaction while giving weight to the number of days since the coins were last moved. The CVDD\u00a0tracks<\/a> the cumulative sum of the coin days destroyed metric as a ratio to the market age and is used to spot potential market tops and bottoms.<\/p>\n Martinez says<\/a> the CVDD indicates the next potential local top for Bitcoin could be around $89,200.<\/p>\n BTC is trading at $68,058 at time of writing.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: DALLE3<\/span><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Bitcoin (BTC) has been flying off exchanges as the digital asset market tracks sideways, according to a popular crypto analyst. The trader Ali Martinez tells his 63,700 followers on the social media platform X that approximately 22,647 BTC worth more than $1.57 billion were withdrawn from crypto exchanges in a recent seven-day period. Source: Ali […]<\/p>\n","protected":false},"author":2,"featured_media":321287,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-321285","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/321285","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=321285"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/321285\/revisions"}],"predecessor-version":[{"id":321291,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/321285\/revisions\/321291"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/321287"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=321285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=321285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=321285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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