Bitcoin, the first and largest cryptocurrency by market ratings, could currently consolidate around $95,000, but according to crypto analyst Michael Van De Poppe, it has already achieved the key technical tasks that set the next best ever stage.
Van de Poppe has identified the $87,000 level as a critical level that Bitcoin needs to overcome to regain its bullish momentum. This level near the Daily SMA 50, which has been limiting the price of Bitcoin since early February, is now compellingly broken and Bitcoin is high. Since breaking through that level, Bitcoin has returned to the range above $92,000, which is positive for that price.
“There was one important level in Bitcoin: $87,000. It continued to rise. It also returned to the range above $92,000. So DIP is a great opportunity for a new ATH,” says Van de Poppe.
#bitcoin had one important level to break through: $87K.
It did and it continued to gather higher.
It’s also back in the range above $92K.
In other words, >any dip is a good opportunity for a new ATH. pic.twitter.com/ehr3c7i3zq
-Michaël Vande Poppe (@cryptomichnl) May 4, 2025
Bitcoin rose sharply from its low of $97,483 on May 1st, marking its highest since late February. The rise reached a high of $97,948 on May 2, when Bitcoin reached resistance and prices fell since.
At the time of writing, BTC has fallen 0.54% over the past 24 hours, to $95,684, following Saturday’s decline.
What’s next for BTC prices? Important levels to see
According to GlassNode, a significant amount of concentrated coins are held in losses within the $95,000 to $98,000 range. As the market approaches this zone, some investors may exit at or near the intrusion price, creating additional sell-side resistance. This exacerbates the predicted increase in long-term holder (LTH) distribution, creating a critical range of resistance to view.
The area is in the area over $100,000 and has a cost base and relatively small amounts of coins. If the market is able to successfully navigate sell-side pressures within the $95,000-$98,000 range, it could enter a low resistance zone and clear its path to return to price discovery and a new all-time best-earning journey.
Similarly, veteran trader Peter Brandt said in a recent post on X that if they can regain the broken parabolic slope, Bitcoin could rise from $125,000 to $150,000 by August or September 2025. However, Brandt warned that a 50% drop could continue after the rally.