Summary
⚈ Bitcoin must hold above $91,400 to reach a potential top around $155,000.⚈ Rising global liquidity (M2 supply) could fuel Bitcoin’s rally toward $150,000.⚈ Large exchange outflows and strong technical indicators signal continued bullish momentum.
While Bitcoin (BTC) has found momentum above the $90,000 mark, an expert views this position as crucial for the asset to reach a record high of over $150,000.
Citing the Pi Cycle Top Indicator, prominent on-chain cryptocurrency analyst Ali Martinez suggested that Bitcoin could climb as high as $155,400 but must maintain a price above $91,400, he said in an X post on April 27.
Bitcoin Pi Cycle Top Indicator. Source: Glassnode
The Pi Cycle Top Indicator, which tracks the 111-day moving average (MA) against twice the 350-day moving average, is used to predict major peaks in the Bitcoin market. Now, Martinez’s outlook is that the two averages are converging again, signaling a potential top i
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