Analyst warns actual bottom could be lower

Meanwhile, investors continue to send BTC to exchanges.

Bitcoin’s price has clearly fallen over the past month and a half, losing more than 30% of its value since its all-time high in early October.

The lowest point so far was on Friday, when Bitcoin fell below $81,000 for the first time since April, after which Bitcoin recovered to around $5,000.

But Ali Martinez outlined a more dire picture, arguing that the asset had previously bottomed out between the green and blue price ranges. If that were to happen again now, it would mean a further crash of up to 50% as BTC plummets to $44,700, where the blue bit is located.

Bitcoin $BTC Over the past seven years, it has often fallen below the green and blue price range.

These levels are currently $55,900 and $44,700, respectively. pic.twitter.com/TaiWFb2KTf

— Ali (@ali_charts) November 22, 2025

What could be even more problematic for the biggest cryptocurrencies is the behavior of certain investors. As previously reported, some whales are disposing of large amounts of assets, including a small number of OGs.

Companies using spot Bitcoin ETFs in the US are also offloading assets. Even with a stronger Friday, more than $1.2 billion remained in the fund last week alone. BlackRock’s IBIT tends to be particularly aggressive.

Furthermore, Martinez said that the number of BTC sent to exchanges has surged to 20,000 units in the past week. This sizable stash, worth about $2 billion, is likely being transferred to trading platforms for sale.

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Moreover, the popular analyst warned that capital inflows into the overall crypto market have now dropped from $86 billion just three months ago to $10 billion. These trends suggest that BTC, like the rest of the market, may not be out of the woods yet.

Capital inflows into the crypto market fell from $86 billion to $10 billion in just three months. pic.twitter.com/baAuFU6wQi

— Ali (@ali_charts) November 23, 2025