BlockBeats news, on June 1, Michael van de Poppe, founder of MN Trading Capital, stated that Bitcoin is currently in a critical price range; if it fails to hold the support level near $70,000, the price could drop below $65,000. However, he believes the current market structure differs significantly from the decline in February this year and does not expect Bitcoin to reach a new low.
Van de Poppe noted that the $71,000 area is currently the most important support level; if this level holds, Bitcoin could break above the $76,600 resistance, potentially triggering a new upward wave in the crypto market. He stated that once this range is breached, "new highs may be just around the corner," and altcoin markets could also see strong performance.
Meanwhile, economist Timothy Peterson believes that Bitcoin's price may rise slowly this summer and peak around the end of July, but overall performance will remain relatively muted.
Notably, U.S. spot Bitcoin ETFs have experienced net outflows for 10 consecutive trading days, with cumulative net outflows exceeding $2.97 billion since May 15, reducing total assets under management from $104.29 billion to $94.17 billion. However, crypto analytics firm Santiment notes that sustained ETF outflows can sometimes indicate that the market is nearing a阶段性 bottom.