Bitcoin’s $60,000 support zone captured headlines after analyst Ali Martinez released a detailed technical and on‑chain report, highlighting the price level as pivotal for the asset’s current trajectory.
Bitcoin Technical Outlook
Martinez pointed out that more than 1.3 million BTC exchanged hands between $60,000 and $63,000, forming one of the largest volume clusters on the blockchain. He identified $60,587 as the short‑term support that investors should watch to preserve the upward trend.
Potential Downside Levels
If Bitcoin slips below the $60,587 threshold, Martinez expects the next major barrier to appear near $46,702, where roughly 150,000 BTC are currently trading. Further down, the $37,867 zone stands out, with about 207,000 BTC having changed ownership in that price band.
Ethereum Near‑Term Target
On the Ethereum side, Martinez noted that ETH is trading beneath its 200‑hour simple moving average, indicating bearish pressure on the market. He suggested that $1,580 serves as the next critical target should the cryptocurrency fail to reclaim the SMA level.