Veteran crypto analyst Ali Martinez has identified a potentially pivotal technical signal across the market’s largest assets. The Tom DeMark (TD) Sequential indicator has flashed monthly buy signals for Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL) simultaneously — a rare alignment that historically preceded major cycle bottoms.
According to Martinez, monthly chart signals carry significantly more weight than those on lower timeframes. The four assets all closed June with extended downtrends before the TD Sequential printed a '9' buy setup — Bitcoin near $58,600, Ethereum around $1,570, XRP close to $1.04, and Solana near $74.80. In past cycles, when multiple large-cap cryptos generated monthly bullish signals at the same time, it indicated widespread seller exhaustion and long-term market lows.
Martinez also highlighted a striking on-chain metric: for the first time in the current cycle, the amount of Bitcoin held at a loss has surpassed that held at a profit. Specifically, 10.45 million BTC are underwater versus 9.60 million BTC in profit. This supply crossover, he argued, signals that the speculative bubble has largely deflated. Similar crossovers were observed in September 2011, September 2014, November 2018, and briefly in March 2020 — each followed by a new bull cycle or strong recovery. The first occurrence in this cycle was noted in June 2026, reinforcing the argument that Bitcoin is now in a high-reliability accumulation zone.
Further reinforcing the recovery narrative, Bitcoin price has climbed back above $60,000 after a brutal June that saw the total crypto market cap drop to $2.12 trillion and nearly $4 billion exit US spot Bitcoin ETFs. The bounce coincided with growing institutional participation, including the Open USD (OUSD) stablecoin initiative backed by over 140 companies and the EU’s MiCA regulations taking effect on July 1. Fed Chair Kevin Warsh’s hint at cooling inflation also injected optimism, adding $50 billion to the overall crypto market in 90 minutes.
While the monthly TD Sequential buy signals do not guarantee an immediate bottom, the confluence of technical, on-chain, and macro factors suggests that downside momentum may be fading. If Bitcoin sustains above $60,000, the setup could usher in broad-based buying across Ethereum, XRP, Solana, and other large caps.
