Crypto analyst Ali Martinez presents data indicating that Bitcoin's (CRYPTO:BTC) short-term holder profitability remains low at 3.35%, suggesting minimal risk of immediate sell-offs.

Despite recent fluctuations in profitability, short-term investors seem content to wait for higher profit margins before selling.

Martinez predicts a potential local top for Bitcoin around $89,200, signaling a 28% increase from the current price of $69,400 and a new all-time high.

Additionally, bullish sentiment is noted on the HTX Global Exchange, potentially driving the next rally.

While Bitcoin faces pressure from bears, trading at $69,429, its status as the largest cryptocurrency with a market cap of $1.368 trillion remains intact.