More than $500 billion has been wiped from the crypto market over the past two months, pushing investor sentiment toward Extreme Fear. As investor sentiment weakens, major cryptocurrencies like Bitcoin, Ethereum, and XRP have dropped 50% and 70% from their recent peaks.
Now, popular crypto analyst Ali Martinez believes key on-chain and technical indicators are now revealing where the next major market bottoms could form.
For Bitcoin, Martinez is watching the historical accumulation area identified by the MVRV Pricing Bands, a metric widely used to identify long-term market bottoms.
According to his analysis, the strongest accumulation zone sits between $53,900 and $43,130.
“The best risk-reward opportunities typically emerge when Bitcoin drops into the 1.0 and 0.8 MVRV Pricing Bands.”
The lower band currently sits near $43,200, a level that has historically acted as a cycle floor during major corrections.
Despite the bearish outlook, Bitcoin is showing signs that buyers are stepping back in. After nearly touching the $59K level, order book data indicate that buy-side demand is exceeding selling pressure.
Even more interesting, nearly $2.68 billion in short positions are clustered around $64,600. If Bitcoin moves into that range, a short squeeze could quickly accelerate prices higher.
Ethereum’s chart appears more challenging. Despite repeated attempts, ETH has failed to reclaim the $1,700 level, while institutional demand continues weakening.
Martinez points to Ethereum’s Delta Price model, which compares investor cost basis with miner production costs. Historically, this indicator has identified Ethereum’s deepest accumulation zones.
Today, that level sits near $700.
The warning comes as ETH futures open interest has fallen 30% over the past month, reaching a 13-month low. Meanwhile, U.S. spot Ether ETFs recorded $523 million in net outflows over just two weeks.
Among the three major cryptocurrencies, Martinez believes XRP may already be showing signs of stabilisation.
Martinez believes the token has likely established support around $1.15, though he identifies an even stronger accumulation zone between $0.70 and $0.90.
The reason is simple a rising trendline that has supported every major XRP cycle bottom for nearly ten years continues to hold.
Unlike Bitcoin and Ethereum, institutional interest in XRP remains relatively strong. According to SoSoValue data, cumulative inflows into U.S. spot XRP ETFs have already surpassed $1.43 billion.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
The recent crypto pullback may have looked worrying, but Geoffrey Kendrick, Global Head of Digital…
Dogecoin price has managed to bounce after a sharp selloff that dragged the price to…
XRP is stuck. The daily price chart has not given a clear directional signal in…
The AI industry was surprised after Anthropic announced that the US government had ordered it…
Pi Network is going into the rest of 2026 in a pretty uncertain state. The…
The Bitcoin price is trading around $63,988 at the time of writing, up nearly 0.6%…
