- According to Michael van de Poppe’s Friday X post, the breakout will be heavier if it lasts longer.
- ETF expert James Seyffart predicts that spot Bitcoin ETFs might eventually have more assets under management (AUM) than gold ETFs.
A prominent crypto analyst has speculated that the extended consolidation of Bitcoin below $70,000 may be setting the stage for a more substantial rise. Adding that he is targeting Bitcoin’s breakout through $71,000—a level the king of crypto hasn’t touched since March 26—van de Poppe said that Bitcoin stays stationary in this range, meaning that there is virtually no direction.
According to Michael van de Poppe’s Friday X post, the breakout will be heavier if it lasts longer. After hitting a one-year low of $60,000 on February 6, Bitcoin has been trading inside a tight band of $60,000 to $74,000 ever since. At the time of publishing, Bitcoin was trading at $67,153, reflecting an 8.29% decline over the last 30 days, as per CoinMarketCap.
Uncertainty Looms
According to crypto analyst Ted’s Friday X post, $60,000 isn’t the bottom. He said that there would be one more surrender before the bottom, but that this does not indicate another 50% drop.
Although general opinion is that the cryptocurrency market is down, Van de Poppe has issued an optimistic forecast. Scores of 11 on Saturday kept the Crypto Fear & Greed Index, which gauges market attitude toward cryptocurrencies generally, in “Extreme Fear” area.
As interest from investors grows beyond the conventional “digital gold” storyline, ETF expert James Seyffart predicts that spot Bitcoin ETFs might eventually have more assets under management (AUM) than gold ETFs. He said the market sees Bitcoin as an asset with growth risk because to its many uses, such as digital gold, a store of value, a diversifier for portfolios, and a kind of digital capital and property.
Bitcoin, according to Seyffart, has an infinite number of perspectives, but gold has only one. According to data from the onchain analytics platform Glassnode, the current bear market has not yet reached its maximum decline in comparison to Bitcoin’s October 2025 peak of $126,200 at 52%.
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Source: https://thenewscrypto.com/bitcoin-consolidation-signals-strong-potential-breakout-as-per-analyst/
