TLDR
- Bitcoin is trading around $73,800, down roughly 3% over the past week.
- Analyst Michael van de Poppe says the $71K zone is crucial support; a hold could push BTC to $76,600.
- Spot Bitcoin ETFs have seen 10 consecutive days of outflows, totaling over $2.97 billion since May 15.
- Economist Timothy Peterson says Bitcoin could grind higher over summer but peak by late July.
- Analyst Ali Charts flagged a TD Sequential buy signal on Bitcoin, suggesting a potential rebound toward $75,000.
Bitcoin is trading near $73,800 after falling to a seven-week low of around $72,000 earlier this week. The drop came as geopolitical tensions between the U.S. and Iran weighed on risk appetite. The world’s largest cryptocurrency is now down around 3% over the past seven days.
The price has recovered from a yearly low of $60,000 hit in early February, but questions remain about whether that low was the cycle bottom or just a pause before more downside.
Analyst Michael van de Poppe, founder of MN Trading Capital, said Bitcoin is now at a “pivotal level.” He stated that if the $71,000 zone fails to hold as support, buyers could be looking at prices below $65,000. However, he said this setup is different from February’s breakdown.
#Bitcoin is at a pivotal level, and if it doesn't hold, we're buying at <$65K.
I don't think we'll see new lows.
That would put Bitcoin beneath $61K and that's where the 200-Day MA is at, doesn't make sense to go deeper as it doesn't happy in any market cycle.However, this… pic.twitter.com/oen6ADaqft
— Michaël van de Poppe (@CryptoMichNL) May 30, 2026
Van de Poppe added that if the current level holds, Bitcoin could break through to $76,600. He said that outcome would likely trigger a wider altcoin rally.
ETF Outflows Signal Market Pressure
Spot Bitcoin ETFs have now logged outflows for ten straight trading days. Total net redemptions have exceeded $2.97 billion since May 15. Total ETF assets have dropped from $104.29 billion to $94.17 billion in that same period.
Crypto ETF Flows — May 26–29th 📊$BTC: -$1.42B$ETH: -$242M$SOL: +$1M
Bitcoin and Ethereum funds saw heavy outflows, but Solana quietly held up better than the majors 👀 pic.twitter.com/D9eFbPsEvm
— CoinCentral (@realcoincentral) May 31, 2026
Crypto analytics firm Santiment Intelligence noted that sustained ETF outflows may signal the market bottom is getting closer.
Analyst Ali Charts posted on X that Bitcoin just triggered a TD Sequential buy signal, stating: “I think a rebound toward $75,000 could be in the cards.”
Bitcoin $BTC just got a TD Sequential buy signal.
I think a rebound toward $75,000 could be in the cards. https://t.co/wfcCrStSPU pic.twitter.com/Xu19c4EEqs
— Ali Charts (@alicharts) May 30, 2026
Fellow trader Daan Crypto Trades also noted on X that the $74,200 level is key for bulls to reclaim, while $72,700 needs to hold on the downside.
$BTC Trading at its bull market support band after a failed retest the past few weeks.
The Weekly 200MA & EMA are still moving up and closing in on price as well.
With all these big high timeframe weekly levels around this area, I would not be surprised to see us trade between… pic.twitter.com/8FKPjNeO1V
— Daan Crypto Trades (@DaanCrypto) May 30, 2026
Bearish Case Still on the Table
Not everyone is convinced a bottom is in. Veteran trader Peter Brandt said in March that $60,000 may not have been the yearly low, forecasting Bitcoin could retest or move slightly below that level in September or October.
CryptoQuant CEO Ki Young Ju warned that Bitcoin’s current downtrend could persist into early 2027. He said historical profit-taking cycles have typically led to around 18 months of weaker returns before a sustainable recovery. He said the bearish phase began in October 2025 as investors locked in gains from the prior rally.
Economist Timothy Peterson said Bitcoin may grind higher over the summer, but said gains would be “relatively lackluster” and that prices could top out by the last week of July.
CryptoQuant’s Bull-Bear Cycle Indicator did turn positive earlier this month for the first time since 2023. Bitcoin is currently holding just above the $72,700 support level flagged by analyst Daan Crypto Trades as critical to watch.
