Bitcoin is at ‘pivotal level’ as $65K downside risk looms: Analyst
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- Van de Poppe notes the current Bitcoin price structure differs from the February breakdown, with range resistance failing as support then.
- Van de Poppe identifies the $71,000 area as a crucial support level that must hold to avoid deeper corrections.
- Van de Poppe predicts that if Bitcoin holds above $71K, it could break to $76,600, sparking a broader crypto uptrend and a strong Altcoin summer.
- Santiment Intelligence reports that spot Bitcoin ETFs have seen outflows for ten straight days, with net redemptions exceeding $2.97 billion since May 15.
- Spot Bitcoin ETFs have lost roughly $10 billion in assets, falling from $104.29 billion on May 15 to $94.17 billion as of Friday.
Why it matters: Traders watching the $71K support stand to gain from a breakout to $76.6K, while ETF investors face $10B asset erosion, indicating a shift toward risk‑off sentiment.
