Key Highlights
- BTC currently trades around $66,800, maintaining a weeks-long range between $60,000 and $70,000
- Michael van de Poppe suggests extended consolidation periods typically lead to substantial breakouts
- Wednesday’s spot Bitcoin ETF data showed $173.73 million in net outflows
- Geopolitical concerns from Trump’s war-related statements reduced risk appetite in broader markets
- Several market observers believe support levels remain unconfirmed, with projections extending below $50,000
The world’s largest cryptocurrency by market capitalization trades near $66,800, reflecting an approximately 8% decline across the previous 30 days. BTC has maintained a trading corridor between $60,000 and $74,000 following its yearly bottom at $60,000 recorded on February 6.
Michael van de Poppe, founder of MN Trading Capital, shared his perspective on current price behavior through an X platform post on Friday. He characterized Bitcoin’s current state as remaining “stagnant in this area, which means that there’s literally no direction.” Van de Poppe emphasized that extended consolidation periods typically result in more significant breakouts. His attention centers on movement beyond $71,000, a threshold BTC last crossed on March 26.
#Bitcoin remains stagnant in this area, which means that there’s literally no direction.
The longer it lasts, the heavier the breakout will be.
Break $71K and we’d be happy. pic.twitter.com/wrLtB1pmsa
— Michaël van de Poppe (@CryptoMichNL) April 3, 2026
Market analyst Ted shared via X that the $60,000 level “wasn’t the bottom.” His assessment indicates a final capitulation event remains ahead before BTC establishes a solid foundation. Ted highlighted that Bitcoin faced rejection at the $69,000–$70,000 range, an area that previously provided support. His analysis warns that breaking below the $65,000–$66,000 corridor would probably trigger a fresh low.
$60,000 wasn’t the bottom for $BTC.
But this doesn’t mean another 50% crash will happen.$USDT.D is indicating that BTC is now the same zone as June/July 2022.
This means there’ll be one final capitulation before the bottom. pic.twitter.com/uV1LU1twzr
— Ted (@TedPillows) April 3, 2026
Institutional Flows Show Hesitation
The institutional landscape shows inconsistent patterns. Wednesday’s data revealed $173.73 million departing from spot Bitcoin ETFs, ending a two-day streak of positive movement. This withdrawal reflects caution among institutional players who appear to be reducing exposure to higher-risk assets.
The latest weekly assessment from Glassnode characterized BTC as existing within a “redistribution phase.” Their data shows elevated supply held at a loss while long-term holder selling activity continues. The analysis states the market “no longer in outright stress but is still searching for stronger conviction.”
In an X post, analyst Jordan forecasted potential upside movement toward $80,000, referencing a bullish pattern that emerged in February. Jordan observed that BTC has successfully defended support in the lower $60,000 range during each test. Maintaining that foundation could propel prices toward the $80,000–$84,000 CME gap, according to Jordan’s framework.
Bitcoin is still holding the BULLISH trend that started back in February.
Every time price has tested support, we’ve bounced.
If we can hold this, we should start to see momentum push towards the $80–84K CME gap.
Interestingly, even with the Iran/US war…price was unable to… pic.twitter.com/YFYWKCI3D5
— Investor Jordan 🌪️ (@InvestorJordan) March 31, 2026
Market Observers Offer Contrasting Views
Crypto analyst Doctor Profit identified a medium-high probability scenario for BTC advancing to the $79,000–$84,000 zone. However, Doctor Profit revealed plans to establish short positions at those levels, targeting prices below $50,000. This analyst maintains that Bitcoin has yet to establish a true bottom.
Analyst CrypFlow highlighted the 2-month stochastic RSI as an important indicator to monitor. Historical analysis shows that bullish crosses below 20 on this metric identified optimal entry points during 2015, 2019, and 2023. The absence of this cross formation suggests additional downward movement could materialize.
Bitcoin analyst Willy Woo stated on March 30 that a “very good chance” exists for a more substantial bear market developing from deteriorating global macro conditions. Veteran trader Peter Brandt shared with Cointelegraph his expectation that Bitcoin will reach a fresh all-time peak during the second quarter of 2027.
Finally, IMO there’s a very good chance we get a deeper bear due to a breakdown of the secular bull market in global macro.
— Willy Woo (@willywoo) March 30, 2026
Saturday’s reading on the Crypto Fear & Greed Index registered 11, placing sentiment firmly within “Extreme Fear” range.
From a technical perspective, BTC positions near the lower edge of a parallel channel formation around $65,900. The RSI indicator rests in the low 40s while the MACD continues trading beneath its signal line, indicating ongoing bearish momentum. A decisive close above $72,600 would represent the initial indication of shifting sentiment toward the bulls.
