Leading cryptocurrency analyst Ali Martinez has pinpointed Bitcoin's 'Ultimate Support' at $47,960, suggesting that a 30% decline may be necessary before a significant market reversal occurs. This analysis is based on the Cumulative Value Days Destroyed (CVDD) indicator, which tracks the selling activity of long-term holders, known as 'diamond hands'. Martinez emphasized that historically, Bitcoin does not linger near this support level for long before rebounding. Despite a recent price increase, Bitcoin is currently trading at $69,095.49, reflecting a 3.28% rise in the last 24 hours. However, other indicators, such as the Puell Multiple, indicate that the market is not yet in a historical buy zone. Additionally, market sentiment appears bearish among major investors on Binance, with a preference for short positions. Analysts like Willy Woo have advised caution, urging patience before making new investments in Bitcoin.