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

Crypto Insight Summary: Bitcoin is hovering around $73,000 and faces a risk of falling toward $65,000 if it fails to hold support above $70,000, according to Michael van de Poppe, founder of MN Trading Capital. Van de Poppe described the current setup as "different from the previous breakdown in February," noting that the $71,000 area is a crucial support level to prevent deeper corrections. If support holds, he said Bitcoin could break through to $76,600, potentially triggering an altcoin rally and new highs. Economist Timothy Peterson projected Bitcoin would grind higher over the summer but top out by the last week of July in a relatively lackluster move. Veteran trader Peter Brandt had earlier forecast in March that $60,000 may not be 2026's lowest level, suggesting a possible retest in September or October. Spot Bitcoin ETFs have recorded outflows for ten consecutive trading days, with total net redemptions exceeding $2.97 billion since May 15. Total net assets across spot Bitcoin ETFs declined from $104.29 billion to $94.17 billion in roughly two weeks. Analytics firm Santiment suggested the sustained ETF outflows could indicate the market bottom is approaching. Bitcoin previously hit a yearly low of $60,000 in early February before recovering to current levels. Crypto Insight Analysis: Direction: Bearish BTC / Neutral ETH Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Technical breakdown risk and ETF outflows pressure BTC; altcoins may follow if $70K support fails.