Analyst: BTC could rise to $85K if it breaks through $76K

Cryptocurrency analyst Michael van de Poppe said on X that while Bitcoin is consolidating near $75,000, its funding rate remains negative, suggesting an excessive buildup of short positions. He noted that despite recent resistance and a temporary correction around the $76,000 mark, a significant increase in Open Interest (OI) shows more traders are betting on a decline. Van de Poppe predicted that if BTC can break through $76,000, its next resistance zone will be between $85,000 and $88,000.