Bitcoin price heading towards $68.000 according to Michaël van de Poppe

The Bitcoin price looks technically sound, according to analyst Michaël van de Poppe. After a brief dip towards $61.000, the price quickly rebounds and Bitcoin is now consolidating around $63.286, a rise of 0.7% in the past 24 hours. Van de Poppe sees little reason for a further decline and sets his sights on $68.000 as the next price target.

Bitcoin is available at OKX and Bybit.

Sale by Saylor has little impact

A striking detail in Van de Poppe’s analysis is his matter-of-fact view on the recent sale of Bitcoin by Strategy, Michael Saylor’s company. That sale took place last week in a rising market, leading Van de Poppe to conclude that Saylor’s influence on the price is actually limited. Despite the news, the expected downward pressure largely failed to materialise.

Now that this news has been digested, Van de Poppe states that a new equilibrium has emerged. He currently sees few factors that could actively push the price down. The market has apparently already priced in the sale, and buyers seem to be calling the shots.

Technical picture points towards $68.000

The chart shows that Bitcoin previously tested the $61.000 level and quickly left it behind. According to the analysis, the price must reclaim the level around $62.000 on a lower time frame to build a stronger foundation for further gains. The next price target Van de Poppe mentions is $68.000, which would represent a rise of over 7% from the current level.

The broader context shows that Bitcoin has already digested quite a bit of negative news in recent weeks, including persistent ETF outflows and pressure on miners. The fact that the price nevertheless holds above $63.000 is seen by Van de Poppe as a positive signal. Whether Bitcoin can indeed find its way upwards towards $68.000 depends partly on how the market reacts to macroeconomic developments in the coming days.