Key Takeaways
- BTC is currently trading near $66,800, confined within a $60,000–$70,000 corridor for several weeks
- Crypto analyst Michael van de Poppe suggests prolonged consolidation could fuel a stronger breakout
- Wednesday’s spot Bitcoin ETF data revealed $173.73 million in net outflows
- Geopolitical uncertainty from Trump’s war-related statements weighed on risk-on assets
- Several market watchers believe BTC hasn’t reached its bottom yet, with forecasts dipping below $50,000
Bitcoin currently sits around $66,800, reflecting an approximately 8% decline over the last month. The world’s premier digital asset has remained trapped in a range between $60,000 and $74,000 ever since touching a yearly bottom of $60,000 on February 6.
Michael van de Poppe, founder of MN Trading Capital, shared his perspective on the current market behavior via an X post on Friday. “Bitcoin remains stagnant in this area, which means that there’s literally no direction,” he observed. He continued: “The longer it lasts, the heavier the breakout will be.” Van de Poppe is monitoring for a push beyond $71,000, a threshold BTC last touched on 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 on X that the $60,000 level “wasn’t the bottom.” He anticipates a final capitulation event before BTC establishes a true price floor. Ted highlighted that Bitcoin faced rejection at the $69,000–$70,000 zone, which had previously served as a support area. He cautioned that breaking below the $65,000–$66,000 band 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 Withdrawals Mount
Institutional appetite has shown inconsistency. Wednesday’s data revealed spot Bitcoin ETFs experienced $173.73 million in net withdrawals, ending a two-day streak of positive inflows. This trend signals caution among institutional players who are stepping back from higher-risk positions.
Glassnode’s most recent weekly analysis observed that BTC continues in a “redistribution phase.” The supply held at a loss remains elevated and long-term holder capitulation hasn’t completely subsided. The analysis determined that the market is “no longer in outright stress but is still searching for stronger conviction.”
Analyst Jordan forecasted in an X post that Bitcoin might climb to $80,000, referencing a bullish pattern that emerged in February. He observed BTC has successfully defended support in the low $60,000s during each test of that zone. Jordan suggested maintaining this level could propel price toward the $80,000–$84,000 CME gap.
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 Experts Split on Bottom Formation
Cryptocurrency analyst Doctor Profit indicated he assigns a medium-high probability to BTC reaching the $79,000–$84,000 range. Nevertheless, he revealed plans to execute short positions at those levels, targeting prices below $50,000. He also emphasized his belief that Bitcoin price hasn’t bottomed yet.
Analyst CrypFlow highlighted the 2-month stochastic RSI as a critical indicator. He noted a bullish crossover below 20 has historically signaled optimal buying moments in 2015, 2019, and 2023. That crossover remains absent, implying additional downside may be ahead.
Bitcoin analyst Willy Woo stated on March 30 there exists a “very good chance” of a more severe bear market stemming from deteriorating global macro conditions. Seasoned trader Peter Brandt informed Cointelegraph he doesn’t anticipate Bitcoin achieving a fresh all-time high until Q2 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
The Crypto Fear & Greed Index registered 11 on Saturday, firmly planted in “Extreme Fear” territory.
From a technical standpoint, BTC is trading near the lower edge of a parallel channel around $65,900. The RSI hovers in the low 40s while the MACD stays beneath its signal line, indicating persistent selling momentum. A close above $72,600 would represent the initial indication of a bullish reversal.
