The price of Bitcoin may rise to $131,000 — but it must hold above this level:

The price of Bitcoin has been in hot form over the last two weeks, leading to discussions that the leading coin will regain the significant mark of $100,000. Interestingly, recent blockchain data suggests that the price of BTC may exceed this level and set a new all-time high in the coming weeks.
What will happen if the price of Bitcoin falls below $93,145?
In a post on April 26 on X, popular crypto analyst Ali Martínez shared an exciting analysis and price forecast for Bitcoin over the next few weeks. According to the online expert, the leading cryptocurrency could rise to $131,800 if it remains above a critical support level.
This projection is based on the cost basis of short-term holders (STH), which measures the average price at which recent investors — typically defined as wallets holding Bitcoin for less than 155 days — acquired their coins. This metric often provides insight into the sentiment of short-term investors and can serve as a relevant psychological level of support or resistance.
When the price of Bitcoin exceeds the STH cost basis, it usually signals a bullish momentum among short-term market participants. On the other hand, a sustained decline below this indicator may trigger increased selling pressure, as short-term holders are known for their speculative and reactive nature.
According to Glassnode data, the value of short-term holders currently stands at approximately $93,145, which is a critically important support level for the price of Bitcoin. Martinez noted that the leading cryptocurrency needs to hold above this support level to make an attempt to reach a new historical price high of $131,800.
However, Martinez warned that if the price of Bitcoin cannot hold the support at the level of $93,145, it could open the door for a broader correction. In this case, the market leader could experience a deep price decline to the next major support level of around $71,150 — nearly a 25% decrease from the current price point.
At the time of writing, the price of Bitcoin is around $94,410, reflecting a decrease of 0.6% over the last 24 hours. According to CoinGecko data, the leading cryptocurrency has increased by more than 10% in the week.
Can whale BTC provide the necessary bullish momentum?
In a separate post on X, Martinez revealed that Bitcoin whales have become active in the market, filling up their reserves after the recent price increase. Whales are significant market participants due to their large assets, as well as their often well-founded trading decisions and positions.
Data from Santiment shows that Bitcoin whales (, holding between 1,000 and 10,000 coins ), have purchased over 20,000 BTC in the last 48 hours. With this increase in buying activity from large investors, the price of Bitcoin may gain the necessary momentum to attempt to reach a new record.
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