Analysts warn Bitcoin could fall below $65K if the key $71K support level fails amid ETF outflows and weak sentiment.
Bitcoin News
Bitcoin (BTC) is trading near $73,000, but analysts say the next move depends on whether a critical support level holds. Michaël van de Poppe, founder of MN Trading Capital, warned on May 31 that BTC must stay above $71,000 to avoid a deeper sell-off. "Bitcoin is at a pivotal level, and if it doesn't hold, we're buying at <$65K," van de Poppe said in an X post. #Bitcoin #BTC #CryptoMarkets #PriceAnalysis
BTC hit a yearly low of $60,000 in early February. It has since recovered to $73,873, according to CoinMarketCap. Van de Poppe said the current market structure differs from the February breakdown. He noted that range resistance failed to act as support during that earlier episode.
$71K Area Remains Crucial Support Level
Van de Poppe identified $71,000 as the zone that must hold. He said a failure there would open the door to a deeper correction. If that level does hold, he said BTC could push toward $76,600. "If that breaks, new highs are around the corner, and we're likely going to see a strong Altcoin summer," he said. Despite the downside risk, van de Poppe said he does not expect new cycle lows.
Veteran trader Peter Brandt offered a more cautious view in March. He said the February $60,000 low may not represent the floor for 2026. Brandt projected that BTC could retest or trade slightly below that level in September or October.
Economist Timothy Peterson said on May 31 that BTC may move higher over the summer. He added that the move will likely peak by the last week of July. "It will still be relatively lackluster, though," Peterson said in an X post.
Bitcoin ETF Outflows Pass $2.97B
Spot Bitcoin exchange-traded funds (ETFs) have logged 10 consecutive days of outflows. Total net redemptions have exceeded $2.97 billion since May 15. Total net assets across spot Bitcoin ETFs dropped from $104.29 billion on May 15 to $94.17 billion as of May 30, a decline of roughly $10 billion over two weeks.
Crypto analytics firm Santiment Intelligence said the prolonged ETF outflow streak may signal that the market bottom is nearing. Market participants remain divided on whether the February low of $60,000 marked the end of the cycle's downside.
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