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A cryptocurrency analyst identified $43,647 as Bitcoin’s “extreme pain” threshold where sellers would be fully exhausted.

Ali Martinez took to X to share their insights on Bitcoin’s current market status.

They referred to the Market Value to Realized Value 0.8 band as the “Average Receipt” for the entire market. These pricing bands use statistical deviation from the Market Value to Realized Value ratio’s all-time average to identify potential market tops and bottoms.

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“Currently at $43,647, this level represents total seller exhaustion,” Martinez stated. “When the market price drops…