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\n\t\t\t\t\t\t\t\t\tMeanwhile, the same analyst outlined the most notable BTC DCA targets. \t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Although BTC managed to recover some ground in the past week, June remains deep in the red so far, as its first week was particularly painful for the bulls.<\/p>\n
One of the reasons behind the asset\u2019s crash to a 19-month low was that large investors, typically referred to as whales, had decreased their holdings by a whopping amount.<\/p>\n
Citing data from Glassnode, popular analyst Ali Martinez highlighted the decrease in whales\u2019 holdings by more than 70,000 BTC in a single month. From a USD perspective, this fortune is worth over $4.5 billion even at current prices.<\/p>\n
\nMore than 70,000 Bitcoin $BTC<\/a> have been distributed by whales over the last month, helping explain the recent downside momentum. https:\/\/t.co\/22IPTSmSJ5<\/a> pic.twitter.com\/o7FZ3stHdA<\/a><\/p>\n
\u2014 Ali Charts (@alicharts) June 13, 2026<\/a><\/p>\n<\/blockquote>\n
This intense selling pressure only added fuel to the fire that sent bitcoin tumbling to $59,100 on June 5 for the first time since late 2024. The other possible reasons stem<\/a> from the massive ETF exodus, Strategy\u2019s sale that led to substantial FUD online, and the broader market weakness due to the US-Iran war uncertainty.<\/p>\n
While analysts continue to debate<\/a> whether bitcoin has already bottomed or if there\u2019s more pain ahead, Ali Martinez recently outlined<\/a> his dollar-cost average targets in case the cryptocurrency keeps dropping to key support levels.<\/p>\n
The first is actually close by, as the 200W SMA is located at $62,800. If it gives in, the next one (300W SMA) is at $55,000, followed by the 400W SMA at $42,500.<\/p>\n
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For now, bitcoin appears to have found solid support and has even reclaimed the $64,000 level over the past day. More volatility is expected today after Trump promised<\/a> a deal with Iran, but reports from the Middle Eastern country are less hopeful.<\/p>\n
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