Bitcoin ETF

Bitcoin

<p>The cryptocurrency space has been subject to high volatility after Bitcoin finally surged to $53,000. After hitting this level, the cryptocurrency faced notable declines in its value. However, a crypto analyst has predicted that the price might continue to surge, highlighting the enduring strength of <a href="https://bitcoinist.com/bitcoin-will-hit-100k-this-june-kiyosaki/" rel="nofollow">Bitcoin’s upward momentum</a>.&nbsp;</p> 
<h2 id="btc-price-needs-to-hold-steady">BTC Price Needs To Hold Steady</h2> 
<p>Despite the recent bearish trends seen in the last few days, a prominent crypto analyst, Michael van de Poppe, has <a href="https://x.com/cryptomichnl/status/1760034062255935858?s=46" rel="nofollow">maintained</a> an optimistic outlook on Bitcoin’s price. Sharing a BTC price chart, the crypto analyst emphasized Bitcoin’s current <a href="https://bitcoinist.com/1-trillion-market-cap-achieved-as-bitcoin-hits-51k-dogecoin-faces-a-strong-challenger/" rel="nofollow">position above $50,000, which shows strength.&nbsp;</a></p> 
<p>However, he revealed that there is the potential for a more extensive <a href="https://bitcoinist.com/will-bitcoin-hit-turbulence-40-correction-eyed-before-reaching-150000-analyst-warns/" rel="nofollow">price correction</a> if Bitcoin fails to hold its current resistance area. Reassuring the crypto community, Poppe clarified that although price corrections can be sharp and “nasty,” they typically prove short-lived.</p> 
<p>The analyst also <a href="https://x.com/cryptomichnl/status/1759953327314419984?s=46" rel="nofollow">disclosed</a> that despite the success of the Spot Bitcoin ETF market, relying solely on <a href="https://bitcoinist.com/bitcoin-etfs-record-2-2-billion-inflow-in-past-week/" rel="nofollow">ETF inflows</a> will not be enough to propel the price of Bitcoin to $100,000 within two months. He affirmed that Bitcoin’s price trend is still very bullish, noting that surges are more likely to unfold gradually over time, rather than in a single rapid moment.</p> 
<h2 id="analyst-projects-bitcoin-surge-to-58-000">Analyst Projects Bitcoin Surge To $58,000</h2> 
<p>In his X posts, Poppe highlighted two potential scenarios for Bitcoin’s price movements. The analyst <a href="https://x.com/cryptomichnl/status/1759858786175442953?s=46" rel="nofollow">suggested</a> a possible inclination towards a downward trend, emphasizing the critical zones to watch within the $48,000 to $49,500 price ranges.&nbsp;</p> 
<p>On the flip side, Poppe revealed that the <a href="https://bitcoinist.com/bitcoin-price-10-million-in-10-20-years/" rel="nofollow">price of Bitcoin</a> could also experience a surge to new highs. He explained that if Bitcoin successfully breaches certain high levels, then the cryptocurrency could achieve a local top of $54,000 to $58,000.&nbsp;</p> 
<p>Furthermore, the crypto analyst presented a Bitcoin price chart, which illustrated a substantial uptrend for Bitcoin. He anticipated a short-term <a href="https://bitcoinist.com/bitcoin-150000-40-correction/" rel="nofollow">correction</a> for the cryptocurrency, followed by a potential <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-bulls-persists-analyst-identifies-trend-as-catalyst-to-60000/">price surge</a> to levels close to $60,000.&nbsp;</p> 
<p>“I’m expecting a short-term correction before a final push to $54-58K and then we’re likely done with this current pre-halving run,” Poppe <a href="https://x.com/cryptomichnl/status/1759502042303811854?s=46" rel="nofollow">stated</a>.&nbsp;</p> 
<p><img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/gCxX3p1h/" alt="Bitcoin price chart from Tradingview.com" width="3286" height="1530"></p>

Bitcoin Holds Above $50,000 Despite Nasty Drop, Crypto Expert Says Local Top Not In

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