$BTC Price Prediction: Top Analyst See BTC Potential Drop to $31,500? Here’s Why

Irma - Sep 8 - - Dev Community

Bitcoin recently dropped to $54,000, struggling to maintain a bullish Q4 start. Analyst Ali Martinez warns that BTC could drop to $31,500 if it breaks below the Realized Price-to-Liveliness Ratio of $51,600, a key metric tracking Bitcoin holders' cost basis. Historically, once Bitcoin falls below this level, it tends to drop further until it reaches the Realized Price at $31,500.

Currently, Bitcoin trades around $54,340, up 1% in the last 24 hours, with a market cap of $1.07 trillion. However, trading volume has dropped 62%, and its market dominance has slipped to 56.81%.

Meanwhile, Bitcoin ETFs saw a massive $706.19 million outflow by September 6, the largest since their launch this year.

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