According to cryptocurrency market analyst Michaël van de Poppe, Bitcoin’s price could reach $60,000 after crossing the “key” support zone between $75,000 and $76,000.
On Friday, bitcoin fell below the van de Poppe support zone he saidadding that market corrections that occur on Fridays “quite often reverse gains.”
There are also “multiple” gaps in Bitcoin futures on the Chicago Mercantile Exchange (CME) above the spot market price, the highest of which is over $79,000, he added. He continued:
“That said, if Bitcoin doesn’t move back up to $76,600 [or more]then there is definitely no reason to assume that we will hit new highs and just stay in this range.”
Bitcoin is breaking below the critical support zone around $75,000. Source: Michael van de Poppe
The forecast comes amid macroeconomic uncertainty surrounding newly appointed Federal Reserve Chairman Kevin Warsh and his colleagues interest rate policywhile the Bitcoin bear market is now in its seventh month.
Related: Long positions on Bitcoin are growing despite feeble macroeconomic data from the US: will BTC for 82,000 be next? dollars?
Bullish or bearish? Analysts wonder where BTC is heading next
Polimarket chances at the time of publication, the value of Bitcoin reaching $55,000 in 2026 is 51%, while the probability of it falling to $45,000 is 31%.
However, 71% of the circulating supply is held by long-term holders, getting below $60,000 is unlikelyaccording to onchain data.
Bitcoin appreciated in value for about 90 days low $60,000 achieved in February, signaling the growth of the bull marketaccording to trader and cryptocurrency market analyst Matthew Hyland.
“Never in the history of BTC has the rally lasted 89 days during a bear market” – Hyland he saidadding: “Breaking high resistance in the time frame three times earlier also marked the beginning of a bull market.”
Source: Matthew Hyland
Despite rising over the past few months, Bitcoin’s inability to maintain critical price support levels could cause this to happen signal months of consolidationAccording to other analysts.
Bitcoin continues to trade well below its 365-day and 200-day exponential moving averages (EMAs), two lively support levels, and on Friday closed below the 50-day EMA, TradingView data shows.
Warehouse: Bitcoin won’t reach $1 million by 2030, says veteran trader Peter Brandt
