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#Are you still bullish on the market? Why? Bitcoin is currently trading at $64,000, seeing a decline of around 15% from its previous peak. As the cryptocurrency market is experiencing strong fluctuations, crypto analyst Ali Martinez has pointed out important support points for Bitcoin BTC/USD.
Critical support level at $62,000
Recently, Martinez had a meeting with X to discuss the current developments of Bitcoin. He commented that the $62,000 level acts as a key support point. If Bitcoin fails to hold this level, attention could turn to the next support area around $51,500.
Besides, Martinez also mentioned factors that could push Bitcoin back to upward momentum. Accordingly, if Bitcoin surpasses the $66,250 threshold, its resilience in the market could improve significantly.