Bitcoin and Ethereum: Crypto Strategist Predicts Bullish Run Before Market Turns Bearish

Crypto strategist Ali Martinez has shared his price targets for Bitcoin (BTC) and Ethereum (ETH) based on historical precedents, suggesting that both cryptocurrencies have room to run before the market turns bearish. Martinez, who has over 120,000 followers on the social media platform X, is using the Mayer Multiple to time BTC's market top. The Mayer Multiple measures the difference between the current price of BTC and the 200-day moving average to determine if Bitcoin is overbought or oversold. Historically, the Mayer Multiple has accurately identified Bitcoin's bull market tops when BTC trades above the 2.4 oscillator. Currently, the 2.4 level sits near $182,000, indicating that BTC still has room to grow. At the time of writing, Bitcoin is trading for $98,772.

For Ethereum, Martinez is keeping a close eye on the market value to realized value (MVRV) pricing band, an on-chain metric used to gauge extreme levels of unrealized profits or loss. When the MVRV pricing band hovers above 2.4 for about 6% of trading days, it suggests an increased likelihood of investor profit-taking that could mark a cycle top. In every bullish cycle, Ethereum has surpassed the 3.2 MVRV Pricing Band. Currently, this level stands at $6,770. At the time of writing, ETH is trading for $3,072.