Crypto analyst Michaël van de Poppe followed that this week can be crucial for Bitcoin, since BTC states a recovery of a 2025 low point of $ 74,000.
Van de Poppe tells his 785,200 followers on the social media platform X that there is a chance that the Federal Reserve will lower the interest rates during its meeting this week, planned before 6 to 7 May.
According to the analyst, a FED rate reduction can serve as a catalyst fuels Bitcoin runs to larger heights.
“Big Week comes with the Fed.
The chance of a rate reduction is considerable, and if that rate reduction comes, there will be a confirmation of the money supply to go ballistic and crypto and bitcoin to succeed. “
Looking at the weekly graph of BTC, Van de Poppe thinks That BTC’s retest of a key price surface as support is exactly what Bitcoin needs to support his bull run.
“When I look at this graph for Bitcoin, it seems that we have just had a beautiful retest of the previous resistance zone for $ 75,000 that will be supported.
This is just an ideal structure for the next leg up. “
Zoom in, from the poppe out That Bitcoin blinks bullish price action after shattering “crucial” price levels.
“Bitcoin had one crucial level to break through: $ 87,000.
It did it and it kept gathering higher.
It has also returned in the range above $ 92,000.
That means-> every dip is a good opportunity for the new of all time High (ATH). “
The analyst too believe That two macro -economic factors conspire to bring Bitcoin to new record highs.
“Because the monetary expansion and the economic cycle are about to warm up, it is very likely that we will see a continuation of Bitcoin to an ATH and higher.”
At the time of writing, Bitcoin is worth $ 94,375.
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Generated image: midjourney