Influential cryptocurrency analyst and trader Ali Martinez said on Monday that Bitcoin (CRYPTO: BTC ) is nearing a bottom, marking the start of a major accumulation cycle. Selling Pressure To Increase? In an X thread, Martinez weighed in on the next possible moves of the apex cryptocurrency. The analyst noted that Bitcoin’s latest crash to $59,000 has effectively flushed out overleveraged premiums across the board, with long-term holders selling over $3 billion in spot BTC. Martinez said the distributed supply has temporarily pushed up exchange reserves, which is likely to increase short-term selling pressure. 6/7 The MVRV Pricing Bands provide our geometric targets. Historically, the premier accumulation windows mature when $BTC settles within the 1.0-0.8 MVRV bands. These levels align at $53,900 and $43,150. https://t.co/FqursAdM3C — Ali Charts (@alicharts) June 8, 2026 BTC Levels To Watch Out For Martinez further highlighted that after Bitcoin’s drop to $59,000, more than 10.46 million BTC ... Full story available on Benzinga.com