Bitcoin’s Extended Consolidation Could Trigger Major Breakout, Says Van De Poppe

Bitcoin’s prolonged consolidation below $70,000 may be setting the stage for a significant price rally, according to a prominent crypto analyst who believes the extended sideways movement could fuel a more powerful breakout.

MN Trading Capital founder Michael van de Poppe said in a Friday X post that Bitcoin’s current price action shows “literally no direction,” but this extended consolidation period could be building pressure for a substantial move higher.

“The longer it lasts, the heavier the breakout will be,” van de Poppe wrote, adding that he is watching for Bitcoin to break through the $71,000 level, a price point the leading cryptocurrency hasn’t reached since March 26.

Since hitting a yearly low of $60,000 on February 6, Bitcoin has been trapped in a narrow trading range between $60,000 and $74,000. At the time of publication, Bitcoin was trading at $66,890, representing an 8.25% decline over the past 30 days, according to CoinMarketCap data.

The lack of directional movement has left traders watching for signals that could indicate which way the market will break. Van de Poppe’s analysis suggests that the extended consolidation period is compressing price action, which typically precedes larger moves in either direction.

However, not all market observers share van de Poppe’s optimistic outlook. Crypto analyst Ted suggested in a Friday X post that $60,000 “wasn’t the bottom,” though he clarified that this doesn’t necessarily mean another 50% crash is imminent.

“There’ll be one final capitulation before the bottom,” Ted wrote, indicating he expects further downside before a sustained recovery begins.

The divergent views among analysts reflect the current uncertainty in the cryptocurrency market. Market sentiment has deteriorated significantly in recent weeks, with the Crypto Fear & Greed Index remaining in “Extreme Fear” territory on Saturday, recording a score of 11.

The Fear & Greed Index measures overall sentiment in the crypto market on a scale from 0 to 100, with lower numbers indicating extreme fear and higher numbers indicating extreme greed. A reading of 11 suggests that investors are highly pessimistic about near-term price prospects.

Bitcoin analyst Willy Woo offered another cautious perspective in a March 30 X post, suggesting that broader macroeconomic factors could weigh on Bitcoin’s price. He said there is a “very good chance we get a deeper bear due to a breakdown of the secular bull market in global macro.”

Woo’s comments highlight how cryptocurrency markets remain sensitive to traditional financial market conditions, including interest rates, inflation expectations, and economic growth forecasts.

Veteran trader Peter Brandt recently told Cointelegraph that he doesn’t expect Bitcoin to reach a new all-time high in 2025, pushing his forecast for a new peak to “maybe the second quarter of 2027.”

Brandt’s extended timeline for a Bitcoin recovery stands in stark contrast to more bullish predictions from other market participants who anticipated new highs earlier this year.

See also: CoinDesk 20 Index Rises 0.7% as Altcoins Surge While Bitcoin Trades Flat

The current consolidation phase follows Bitcoin’s impressive performance in 2024, when the cryptocurrency rallied on expectations of regulatory clarity and increased institutional adoption. However, the momentum has stalled in recent months as macroeconomic concerns and profit-taking have weighed on prices.

Van de Poppe’s technical analysis focuses on the $71,000 resistance level as a critical threshold for Bitcoin. A break above this level could signal the start of a new uptrend and potentially attract renewed buying interest from traders who have been sitting on the sidelines.

Meanwhile, support at $60,000 has held multiple times in recent months, suggesting that buyers are willing to step in at these levels. However, analysts like Ted believe this support level may be tested again before Bitcoin can establish a sustainable bottom.

The Bitcoin price has declined 7.63% over the past 30 days, underperforming many traditional assets and reflecting the cautious sentiment that has gripped cryptocurrency markets. Trading volumes have also remained relatively subdued during the consolidation period, indicating a lack of conviction among both buyers and sellers.