Bitcoin’s Downside May Be Limited, With $75,000 Support in Focus
Summary
- Cryptocurrency analyst Michaël van de Poppe said Bitcoin is unlikely to face a steep decline from current levels.
- He identified $75,000 as the key support zone and said the cryptocurrency could rise toward $90,000 if that level holds.
- If US Treasury yields and crude oil prices stabilize and macroeconomic uncertainty eases, appetite for risk assets could recover, while institutional demand and spot ETF inflows may continue.
Forecast Trend Report by Period
Bitcoin may be unlikely to enter a steep selloff from current levels, according to market analysis. Investors are watching whether a key support level holds.
On May 21, cryptocurrency analyst Michaël van de Poppe wrote on X, formerly Twitter, that both stocks and Bitcoin could resume their rebound if surging US Treasury yields and crude oil prices stabilize.
He identified $75,000 as Bitcoin’s key support zone. If that level holds, the cryptocurrency could climb toward $90,000, where its 50-week moving average sits on the weekly chart.
Market volatility has recently increased as investors assess the path of US interest rates and geopolitical risks in the Middle East. Some analysts say appetite for risk assets could recover if macroeconomic uncertainty eases.
Bitcoin recently underwent a short-term pullback as US Treasury yields rose and the dollar strengthened. Institutional demand and inflows into spot exchange-traded funds have continued, however.
