Bitcoin Crucial Task Achieved, Analyst Says as BTC Price Lulls at $95,000
By: bitcoin ethereum news|2025/05/04 10:45:01
0
Share
Bitcoin, the first and largest cryptocurrency by market valuation, might be currently consolidating around $95,000, but according to crypto analyst Michael van de Poppe, it has already accomplished a crucial technical task that sets the stage for its next all-time high. Van de Poppe identified the $87,000 level as a crucial level that Bitcoin needed to overcome to regain its bullish momentum. This level near the daily SMA 50, which has capped the Bitcoin price since early February, has now been convincingly broken, with Bitcoin rising higher. Since breaking through that level, Bitcoin has also flipped back into the range above $92,000, which remains positive for its price. “Bitcoin had one crucial level to break through: $87,000. It did, and it continued to rally higher. It has also flipped back into the range above $92,000. That means any dip is a good opportunity towards the new ATH,” van de Poppe said. #Bitcoin had one crucial level to break through: $87K. It did and it continued to rally higher. It has also flipped back in the range above $92K. That means –> any dip is a good opportunity towards the new ATH. pic.twitter.com/Ehr3c7I3zq — Michaël van de Poppe (@CryptoMichNL) May 4, 2025 You Might Also Like Bitcoin rose sharply on May 1 from a low of $94,115 to $97,483, its highest since late February. The rise extended to highs of $97,948 on May 2, where Bitcoin met resistance, and the price subsequently fell. At the time of writing, BTC was down 0.54% in the last 24 hours to $95,684 following Saturday’s drop. What’s next for BTC price? Key levels to watch According to Glassnode, a significant concentration of coins is held at a loss within the $95,000 to $98,000 range. As the market approaches this zone, some investors may exit at or near their break-even price, creating additional sell-side resistance. This would compound the predicted increase in long-term holder (LTH) distribution, creating an important resistance range to watch. You Might Also Like The range above $100,000 has a relatively small volume of coins with a cost basis in this area. If the market can successfully navigate the sell-side pressure within the $95,000 to $98,000 range, it may enter a low resistance zone, clearing the way for a return to price discovery and a new all-time high. Similarly, veteran trader Peter Brandt stated in a recent post on X that Bitcoin might rise to the $125,000 to $150,000 region by August or September 2025 if it can reclaim its broken parabolic slope. However, Brandt cautioned that the rally might be followed by a 50% drop. Source: https://u.today/bitcoin-crucial-task-achieved-analyst-says-as-btc-price-lulls-at-95000
You may also like
The 'Cooperative' in Stablecoins: Open USD Launches, Circle Welcomes Competition
Binance Founder Bets on Bitcoin at One Million Dollars: "It’s Totally Possible"
XRP Ledger hits 1M AI payments as Ripple-backed t54.ai launches hub
Aptos Network Vulnerability Exposed $70 Billion to $3,000 Attack
What is a flash loan? Borrowing millions with zero collateral, explained
AI is Changing Employment Expectations in the U.S., Fed May Remain Cautious
Crypto Long & Short: With MSTR concerns assuaged, look to traditional signals around BTC
What are RWA perpetuals? Trading stocks and commodities as crypto perps
OpenAI lands GPT-5.6 approval as traders rush pre-IPO futures
What is liquidation in crypto? Margin calls, health factors, and how positions die
Venezuela entrusts taxes to 'cryptocurrency expert' - is USDT under scrutiny?
US Power Grid Issues Red Alert Amid Heatwave, Is Bitcoin Mining the Scapegoat?
Central Banks, Parliaments, and Atlantic Players at the Euro Stablecoin Table
What are tokenized stocks? How equities are moving on-chain, explained
Zcash Co-founder Wants More Than 21 Million Bitcoins
Bankers Filed Suspicious Activity Report Over Farage's £5M Gift From Tether Billionaire
Analysis: Bitcoin May Enter a Phase of Bottoming Out, Selling Does Not Trigger Panic
BNB Chain builds new Layer 1 for agentic trading, targets 2027 mainnet
The 'Cooperative' in Stablecoins: Open USD Launches, Circle Welcomes Competition
Binance Founder Bets on Bitcoin at One Million Dollars: "It’s Totally Possible"
XRP Ledger hits 1M AI payments as Ripple-backed t54.ai launches hub
Aptos Network Vulnerability Exposed $70 Billion to $3,000 Attack
What is a flash loan? Borrowing millions with zero collateral, explained
AI is Changing Employment Expectations in the U.S., Fed May Remain Cautious
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com

