Analyst: No clear reason for BTC to drop, next target is $85K

According to crypto analyst Michaël van de Poppe, there is no clear reason for Bitcoin to drop suddenly, and the current trend could push it toward the next resistance zone of $85,000 to $88,000. He noted that bears are arguing BTC is in a bear flag pattern and will see a drop to $50,000 later this year. He drew parallels to the sharp decline in February, the COVID-19 crash, and the 2018 bear market, when many predicted further losses before Bitcoin ultimately recovered. While acknowledging that BTC could retest the $70,000 to $75,000 range, he stated that the current trajectory is higher. He explained that Bitcoin is trading above its 21-day moving average (MA), has successfully broken through key resistance levels and converted them into support, and is seeing continued buying pressure amid a strong Nasdaq.