Bitcoin Analyst Sees Early Signs of Market Turnaround

Cryptocurrency analysts Ali Martinez and Joao Wedson have both shared optimistic predictions regarding the future of Bitcoin. Martinez believes Bitcoin’s current price action suggests a possible rising wedge formation, hinting at a retest of the $79,000 level. If this level is surpassed, he anticipates further upward movement towards $97,000; however, if the resistance holds and the price drops, we might see a return to $79,000. 84,430 at time of writing. Wedson adds an interesting point by discussing the decreasing difference between futures and spot prices in Bitcoin. This positive development signifies a potential shift away from bearish sentiment as traders are more willing to invest in long-term positions with higher premiums. He points out that this trend echoes historical patterns where a positive Futures-Spot Range preceded strong price increases, most recently in 2020-2021 and 2024. This could indicate the start of a bullish movement for Bitcoin.