- Analyst Michael van de Poppe suggests Bitcoin’s price can rise to $100,000 without a new catalyst, stating “Price moves upwards, and the narrative will create itself.”
- Bitcoin has not traded above the $100,000 level in nearly five months, last reaching it in mid-November.
- Market attention has shifted towards AI and other tech sectors, with NVIDIA‘s stock rising over 5% this year while Bitcoin is down approximately 10%.
Bitcoin could approach the $100,000 mark again without requiring a specific catalyst, according to MN Trading Capital founder Michael van de Poppe, who argued that price action itself can generate the necessary market story. The cryptocurrency last traded above this psychological threshold nearly five months ago, following a major market liquidation event in October. However, attention has notably rotated away from crypto, with sectors like Artificial Intelligence taking the spotlight.
Consequently, the stock price of AI leader Nvidia (NVDA) is up over 5% since January, while Bitcoin has fallen around 10% in the same period, according to market data. Van de Poppe emphasized that using “math, statistics, and logic” is key for accumulation in current market regions. Meanwhile, other potential drivers like the U.S. CLARITY Act are viewed with skepticism by some veterans, such as trader Peter Brandt, who believes clearer regulations, while positive, are not a “world-shaking macro development” for price.
The market continues to watch for catalysts, including potential U.S. regulatory developments and spot Bitcoin ETF inflows. Bitcoin recently recovered to approximately $78,250, as reported by CoinMarketCap, marking a 14.49% gain over the past month. This rebound follows a drop to a yearly low near $60,000 in February, illustrating the asset’s continued volatility.
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