Bitcoin’s prolonged consolidation below $70,000 could pave the way for more significant growth, according to a cryptocurrency analyst.
“The longer this goes on, the stronger the breakout will be,” said MN Trading Capital founder Michael van de Poppe he said in post X on Friday.
“Bitcoin remains stagnant in this area, which means there is literally no direction,” van de Poppe said, adding that he expects Bitcoin (BTC) to break through $71,000, a level the asset has not reached since March 26.
Bitcoin is trading in a narrow range
Since hitting a yearly low of $60,000 on February 6, Bitcoin has traded in a tight range between $60,000 and $74,000. At the time of publication, Bitcoin was trading at $66,890, down 8.25% over the past 30 days, According to to CoinMarketCap.
Crypto analyst Ted said $60,000 “wasn’t the low” for X post on Friday. “It doesn’t mean there will be another 50% crash,” he said, adding that “there will be a final capitulation before the bottom.”
Van de Poppe’s confident call comes amid declines in the broader cryptocurrency market. Crypto fear and greed Indexwhich measures overall sentiment in the cryptocurrency market, remained in the “extreme fear” area on Saturday, recording a score of 11.
A “deep bear” for Bitcoin is still possible
While van de Poppe is watching for a potential reversal as Bitcoin continues to consolidate, other analysts are more skeptical.
Bitcoin analyst Willy Woo he said in X’s March 30 post that there is a “very good chance we will experience a deeper bear market as the global macro secular bull market breaks down.”
Related: Bitcoin ‘finished’ with 85% failure rate, says Cathie Wood with modern target of 34k. dollars
Meanwhile, veteran trader Peter Brandt recently told Cointelegraph that he doesn’t expect Bitcoin to reach a modern high in 2026.
“Maybe not until the second quarter of 2027.” – he added.
