Michaël van de Poppe, a well-known figure in the cryptocurrency market, suggested that Bitcoin could initiate a recovery towards the $70,000 level after the options contract expires on Friday.
Van de Poppe, in his assessment on the social media platform X, stated that signs of recovery are emerging in the overall market outlook. According to the analyst, optimism is strengthening not only in Bitcoin but also in the broader crypto market. This situation could create a positive environment for the leading cryptocurrency.
Van de Poppe emphasized that the $65,000 level is a critical threshold, and said that if Bitcoin can maintain its position above this level, the upward movement could gain momentum.
The analyst stated that pressure on the market could ease after the expiration of option contracts, potentially triggering a surge that could push the price towards the $70,000 range.
Option expiration periods are generally known for increasing short-term volatility. Rapid changes in market balances can occur as large volumes of contracts close.
Analysts say that maintaining the $65,000 level will be crucial for a short-term bullish scenario, otherwise Bitcoin could retest support levels. The market’s direction will become clearer in the coming days with volume and macroeconomic developments.
*This is not investment advice.
