Key Takeaways
- BTC continues consolidating near $66,800, trapped within a $60,000–$70,000 corridor for several weeks
- Trading expert Michael van de Poppe suggests extended consolidation could fuel a significant breakout
- Wednesday witnessed $173.73 million exiting spot Bitcoin ETFs
- Geopolitical uncertainty from Trump’s war-related statements reduced risk-on sentiment
- Several market watchers believe BTC hasn’t reached its cycle low, with targets potentially under $50,000
The world’s largest cryptocurrency by market capitalization is currently trading around $66,800, representing an approximate 8% decline across the last month. BTC has been confined within a tight range bounded by $60,000 and $74,000 ever since touching a yearly bottom at $60,000 on February 6.
Michael van de Poppe, founder of MN Trading Capital, shared his perspective on the current market dynamics through a Friday post on X. “Bitcoin remains stagnant in this area, which means that there’s literally no direction,” he stated. He continued: “The longer it lasts, the heavier the breakout will be.” Van de Poppe has identified $71,000 as a critical resistance threshold—a price point BTC hasn’t touched since 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 his view on X that the $60,000 level “wasn’t the bottom.” According to his analysis, a conclusive capitulation event is still probable before Bitcoin establishes a genuine floor. Ted highlighted that BTC faced rejection at the $69,000–$70,000 territory, an area that had previously provided support. He cautioned that a breakdown below $65,000–$66,000 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 Outflows Weigh on Sentiment
The institutional investment landscape has shown inconsistency. On Wednesday, spot Bitcoin ETFs experienced net outflows totaling $173.73 million, breaking a two-day streak of inflows. This development indicates wavering confidence among institutional participants who are retreating from higher-risk positions.
According to Glassnode’s latest weekly analysis, BTC continues operating within a “redistribution phase.” The amount of supply held at a loss remains elevated, and capitulation from long-term holders hasn’t completely subsided. The research firm concluded that while the market is “no longer in outright stress,” it continues “searching for stronger conviction.”
In an X post, analyst Jordan forecasted Bitcoin could surge toward $80,000, citing a bullish pattern that emerged in February. He observed that BTC has successfully defended support in the lower $60,000 region during each test of that zone. Jordan suggested that maintaining this support could propel prices into the $80,000–$84,000 CME gap range.
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 Split on Bottoming Process
Crypto analyst Doctor Profit indicated he assigns a medium-to-high probability to BTC climbing into the $79,000–$84,000 territory. Nevertheless, he revealed plans to establish short positions at those levels, targeting areas below $50,000. He emphasized that Bitcoin’s price hasn’t yet established its bottom.
Analyst CrypFlow drew attention to the 2-month stochastic RSI as a critical indicator. According to his research, bullish crosses occurring below 20 have historically signaled optimal entry points during 2015, 2019, and 2023. Since this cross hasn’t materialized yet, it implies additional downside movement could be forthcoming.
Bitcoin analyst Willy Woo commented on March 30 that there exists a “very good chance” of a more severe bear market resulting from deteriorating global macroeconomic conditions. Seasoned trader Peter Brandt informed Cointelegraph he doesn’t anticipate Bitcoin achieving a new all-time high before 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
On Saturday, the Crypto Fear & Greed Index registered 11, firmly planted in “Extreme Fear” territory.
From a technical perspective, BTC is trading close to the lower edge of a parallel channel formation near $65,900. The Relative Strength Index hovers in the low 40s while the MACD continues trading beneath its signal line, indicating persistent bearish momentum. A decisive close above $72,600 would mark the initial indication of a bullish reversal.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
