Van de Poppe: Bitcoin heading towards $81.000-83,000 before altcoin rally

Analyst Michaël van de Poppe believes the bulk of the recent Bitcoin price rally is behind us. He expects a consolidation phase followed by a new upward move towards $81.000 to $83.000. After that, he says, it will be altcoins’ turn to catch up. Bitcoin is trading at $77.200 at the time of writing, up 0.3% in the past 24 hours.

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In short:

• Van de Poppe expects Bitcoin to first consolidate around the current level of $77.000
• A subsequent upward move towards $81.000-83,000 is plausible in his view
• After that rise, he expects altcoins to catch up with Bitcoin

Consolidation after strong surge

Van de Poppe shared his view on X following Bitcoin’s sharp price surge in recent times. According to him, most of that move is now behind us. He expects the price to move sideways for a while before a new impulse towards the $81.000 to $83.000 zone follows.

On the accompanying chart, Van de Poppe marks a resistance zone around $82.830, with a previously tested level around $77.400. The analysis suggests that short-side liquidity in that higher zone is ready to be picked up, which could fuel a further rise.

Altcoins could make a catch-up move

After a possible peak in the $81.000-83,000 zone, Van de Poppe expects a shift in the market. Altcoins have largely missed the recent Bitcoin rally and have therefore lagged behind. Once Bitcoin stagnates, he expects capital to flow towards altcoins.

That expectation fits a pattern that is more often visible after a period of strong Bitcoin dominance. Whether that shift will occur this time also depends on broader market conditions. Blockchainstories previously reported on CoinShares’ expectation that Bitcoin will remain below $80.000 until the Fed provides clarity, which for now limits the scope for a rapid breakout to the upside.

The recent Bitcoin rally was partly fuelled by a short squeeze on Binance Futures, which partly explains the sudden price jump. Whether the market now has enough strength for a second upward wave to the levels mentioned by Van de Poppe remains uncertain for now.