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\n\t\t\t\t\t\t\t\t\tMeanwhile, a decrease in long positions on Bitfinext hints at at more upside potential ahead for BTC.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Bitcoin has experienced an evident price revival over the past week or so, mostly driven by the positive developments on the US-Iran war front.<\/p>\n
Although it was stopped at the local peak at $76,000, it remains close to $75,000, which is a major \u201cmake-or-break\u201d level, according to popular analyst Ali Martinez.<\/p>\n
The analyst with 165,000 followers on X noted that bitcoin is now testing the 100-day simple moving average as resistance for the third time in the last six months. The previous two occasions were highly unsuccessful, as each rejection led to a massive correction of 30% and 39%, respectively.<\/p>\n
Martinez warned that if bitcoin fails to overcome this level decisively this time, it \u201cwould be a major structural failure.\u201d He added that triggering a triple top effect could send BTC south to the February low at $60,000.<\/p>\n
On the upside, if it manages to reclaim that crucial resistance, its path to $80,000-$84,000 will be open, which would confirm the \u201cmacro correction might be over.\u201d<\/p>\n
\nBitcoin $BTC<\/a> is at a make-or-break point!<\/p>\n
For the third time in six months, BTC is testing the 100-day simple moving average (SMA) as resistance.<\/p>\n
\u2022 In October, Bitcoin got rejected, resulting in a 30% correction from $116,000 to $80,000.
\u2022 In January, Bitcoin also got\u2026 pic.twitter.com\/OpTotoWDQI<\/a><\/p>\n\u2014 Ali Charts (@alicharts) April 16, 2026<\/a><\/p>\n<\/blockquote>\n
Fellow analyst CW noted that Bitfinex whales have decreased their long positions, suggesting that they are \u201ctaking profit.\u201d Interestingly, the market observer said this is bullish for BTC, claiming<\/a> that this means \u201cthe rally for BTC is going to continue.\u201d<\/p>\n
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In a separate post, CW explained<\/a> that there are \u201calmost no short positions on BTC,\u201d while the increase in high-leverage long positions is \u201calso not significant.\u201d According to the analyst, this creates a \u201cvery ideal situation.\u201d<\/p>\n
Whales Are Buying Spot<\/h2>\n
While whales operating on Bitfinex have reduced their long futures positions, those buying spot have gone in the opposite direction. Additional data from Ali Martinez shows that these large market participants have bought 10,000 BTC in the past 96 hours alone.<\/p>\n
From a USD perspective, this stash is worth approximately $750 million given the asset\u2019s current price. Such substantial acquisitions could have a two-fold impact on the underlying asset: on one hand, they directly reduce the immediate selling pressure; on the other, they could serve as an example to smaller investors who tend to copy the so-called \u2018smart money.\u2019<\/p>\n
\n10,000 Bitcoin $BTC<\/a>, worth roughly $750 million, were bought by whales in the last 96 hours. pic.twitter.com\/uuORpEx71R<\/a><\/p>\n
\u2014 Ali Charts (@alicharts) April 16, 2026<\/a><\/p>\n<\/blockquote>\n
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