Bitcoin it is also trading near its previous price of $69,000. Crypto expert Ali Martinez says that the world’s largest cryptocurrency is showing the same pattern that led to gains of over 7,500% and 550% in previous stock markets.
At the same time, on-chain indicators are showing clear signs that could point to another big move.
Bitcoin Nears All-Time Record of $69K
Crypto analyst Ali Martinez says Bitcoin has only briefly traded in long-term highs several times in its history, and each time after that it has turned into one of the best buying opportunities.
During 2015, Bitcoin fell below the previous high of $259 before experiencing a 7,500% increase in the subsequent bull market.
A similar trend was seen after the 2021 cycle. In late 2022, Bitcoin fell below its previous price of $19,660 before rising more than 550% to reach its October 2025 peak of $126,198.
Now, history is repeating itself again. Since June, Bitcoin has been trading below the 2021 price of around $69,000.
Martinez believes that recovering and maintaining this level would indicate that Bitcoin is moving out of its bear market and into new long-term territory.
On-Chain Data Shows Consumers Are Protecting Bitcoin
Glassnode’s Short-Term Holder (STH) Cost Basis Distribution is Glassnode’s latest Heatmap shows more new investors bought Bitcoin between $62,000 and $65,000 after a recent recovery from $57,000.
This creates a very supportive environment because many owners now have Bitcoin around these prices.
However, Glassnode also cautions that most of these purchases were made at the end of the recent session. If Bitcoin cannot break $66,000, the new buyers may start taking profits, increasing the risk of another short-term pullback.
Longer Cycles Point to Greater Recovery
Crypto analyst Rekt Capital believes Bitcoin is still following its four-year trend.
According to him, 2025 marked the peak of the bull market, while 2026 continues to act as a bear market year. He expects 2027 to be the last phase of Bitcoin’s bull run before it begins.
Despite the current weakness, experts say that Bitcoin continues to follow many of the trends seen in previous markets.
As of now, Bitcoin is trading at around $64,460, as traders are looking to see if BTC can recover to $69,000 and confirm its next major trend.
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