Bitcoin is at ‘pivotal level’ as $65K downside risk looms: Analyst

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Source: Timothy Peterson Van de Poppe said that this structure is “different than the previous breakdown in February.” He said that the range resistance didn’t hold as support in February. “The $71K area remains to be a crucial support level, and that would be required to hold in this particular zone in order to prevent any deeper corrections, in my opinion,” van de Poppe said. However, van de Poppe said that if the current price level does hold, Bitcoin could break through to $76,600, potentially triggering a broader crypto market uptrend. “If that breaks, new highs are around the corner, and we're likely going to see a strong Altcoin summer,” van de Poppe said. Meanwhile, crypto analytics firm Santiment Intelligence recently said that the sustained Bitcoin ETF outflows may suggest the market bottom is nearing an end. Related: Bitcoin retail sentiment still matters, says Swan Bitcoin CEO Spot Bitcoin ETFs have logged outflows for ten consecutive trading days, with total net redemptions exceeding $2.97 billion since May 15. Total net assets held across spot Bitcoin ETFs have dropped from $104.29 billion on May 15 to $94.17 billion as of Friday, a decline of roughly $10 billion in two weeks. Magazine: HYPE chases $100 target, ETH could dump below $1800: Market Moves More on the subject

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