Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are showing multiple long-term bottom, according to technical analysis by a prominent analyst.

Bitcoin’s Macro Bottom Zone

In an X post on July 2, crypto chart analyst Ali Martinez pointed to historically reliable technical and on-chain indicators that suggest accumulation may be underway.

For Bitcoin, Martinez identified $48,300 as the most important long-term accumulation level.

The price corresponds to Bitcoin’s Investor Price, an on-chain metric that estimates the average acquisition cost of economically active coins by excluding permanently lost Bitcoin.

Historically, Bitcoin has found major bear-market bottoms around this level, making it one of the market’s most closely watched long-term support metrics.

Over the past month, retail investors holding less than one Bitcoin and mid-sized holders with 10 to 100 BTC have led the buying activity.

Meanwhile, the largest entities controlling between 1,000 and 100,000 BTC have also turned into net buyers, albeit at a slower pace.

Martinez said synchronized buying by both retail investors and whales has historically coincided with durable market bottoms and laid the foundation for longer-term recoveries.

ETH Monthly Buy Signal Returns

In another X post on July 3, Martinez said Ethereum has entered a historically significant support zone, with $1,100 representing the lower boundary of its long-term price channel dating back to 2021.

Every previous test of the channel floor has attracted aggressive buying, making the level one of Ethereum’s highest-conviction long-term accumulation areas.

If Ethereum successfully defends the support, Martinez projects an initial recovery toward the channel midpoint near $3,000, followed by a potential move toward the upper boundary around $5,000, which aligns with prior cycle highs.

Adding to the bullish outlook, Martinez highlighted that the TD Sequential indicator has printed a fresh monthly buy signal for Ethereum.

Previous monthly sell and buy signals preceded a 78% correction from the 2021 highs, a 235% rally following the 2022 bottom and a 182% advance after the March 2025 buy signal.

The latest signal, Martinez said, points to macro-level seller exhaustion and raises the possibility that Ethereum is carving out another major bottom.

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