On-chain analyst Ali Martinez suggests Bitcoin’s current price structure is mirroring patterns from the 2022 bear market, which could indicate another potential correction. The analysis points to a possible rejection near $80,000, a level reinforced by significant whale sell orders. Adding to the bearish signals, Martinez’s data shows over $770 million in BTC has been moved to exchanges by large holders recently, an action often preceding sales.
On-chain data and technical analysis from popular analyst Ali Martinez indicate Bitcoin’s current price structure is mimicking its 2022 bottoming cycle. This similarity suggests the possibility of another major price rejection similar to the one that occurred in August 2022.
Martinez’s chart analysis implies Bitcoin could face a downturn below $55,000 after encountering resistance around the $80,000 to $82,000 range. This key resistance level is further supported by significant sell walls from whales at $79,000 to $80,000, as mentioned by another observer. Bitcoin has already been stopped at $79,500 on several recent occasions.
Further data from Martinez revealed that more than 10,000 BTC, worth approximately $770 million, have been sent to centralized exchanges by large investors. Such movements are typically viewed as a preparatory step for selling. In the meantime, analyst Crypto Tony believes Bitcoin’s recent minor rebound to $77,600 will result in another rejection.
Despite these cautionary signals, Bitcoin ended the month of April with substantial gains. The cryptocurrency recorded an 11.87% increase, marking its most significant monthly gain since April 2025.
