Will Bitcoin Hit $105,000 This Month? Analyst Outlines Key Steps

Bitcoin’s journey to six figures could involve a detour through lower price levels before reaching its target, according to crypto analyst Michael van de Poppe. The digital asset surged past the $94,000 mark earlier this week, catching short sellers off guard and triggering widespread liquidations in futures markets. Van de Poppe, who boasts an audience of over 815,000 followers on X, presents a contrarian view to prevailing bullish sentiment, suggesting Bitcoin may need to retest support levels between $88,000 and $90,000 before launching a sustained rally toward $105,000 later this month. The analyst attributes this prediction to current market sentiment. While Bitcoin traded above recent resistance levels, its momentum might not be strong enough to hold the $92,000 mark. A drop below this level could trigger long position liquidations and create temporary downward pressure.