Renowned crypto analyst Ali Martinez has issued a cautionary note on Bitcoin's (CRYPTO:BTC) price outlook, emphasizing concerns over current supply distribution.
Martinez, a prominent figure in the crypto community, detailed on the X platform how a critical supply barrier poses a significant obstacle for Bitcoin's upward momentum.
The analysis underscores the clustering of BTC supply at specific price levels, which creates formidable resistance.
Failure to breach these levels could lead to further downside potential, driven by increased selling pressure.
Martinez's insights highlight the importance of monitoring these supply dynamics closely to navigate Bitcoin's price movements effectively.