Despite mounting challenges from multiple directions, Bitcoin continues to show surprising resilience, leading some analysts to argue that the asset may be performing better than many believe.
Bitcoin reached a peak above $126,000 last October, a level that now feels distant as the asset trades below $65,000. That represents a decline of nearly 50%, a painful correction, especially for investors who entered near the highs above $120,000.
Still, the broader picture may not be as bearish as it appears.
Bitcoin Is Holding Up Better Than Expected
While many analysts remain focused on whether Bitcoin has already reached its bottom or still has room to fall, Michaël van de Poppe believes Bitcoin is showing notable strength.
He pointed out that BTC continues to hold above its 200 week moving average and has resisted deeper losses despite intense market pressure.
In his view, the lack of strong selling momentum suggests that market bears may be losing control.
Major Headwinds Continue to Pressure Bitcoin
Van de Poppe highlighted several major factors weighing on Bitcoin.
The first is geopolitical instability, particularly tensions involving Iran.
The conflict that began in late February was initially expected to ease following early statements from Donald Trump. Optimism grew after Trump announced a proposed agreement with Iran, and both sides appeared to acknowledge progress.
However, the agreement was never finalized. Negotiations in Switzerland reportedly collapsed over the weekend, the Strait of Hormuz remains closed, and tensions have risen again following renewed threats from Trump.
The second concern involves growing market anxiety around Strategy’s STRC shares.
These shares were designed to raise capital for additional Bitcoin purchases, but they have recently traded well below their target price. This has sparked speculation about whether Strategy could face serious financial strain, with some observers even comparing the risks to past industry collapses.
There are also concerns that Strategy may eventually need to liquidate a sizable portion of its Bitcoin holdings.
Another major headwind comes from institutional flows.
Spot Bitcoin ETFs have now recorded six consecutive weeks of net outflows. Over that period, cumulative outflows have reached roughly $5 billion, reflecting ongoing selling pressure from institutional investors.
Finally, macroeconomic concerns continue to weigh heavily on markets.
Inflation in the United States and other major economies has started rising again, reducing expectations for near term interest rate cuts.
Adding to market pressure, the Federal Reserve maintained a hawkish tone following the latest policy meeting, signaling continued caution on inflation.
Has Bitcoin Already Bottomed?
Given all of these negative factors, Bitcoin’s ability to remain above the $60,000 support zone stands out.
Van de Poppe argues that Bitcoin’s resilience in the face of persistent bearish pressure could indicate that the worst of the correction may already be over.
He believes this strength suggests the market may have already reached its bottom.
He also pointed to the recent performance of altcoins, noting that many have shown steady resilience over the past month.
That stability, combined with Bitcoin’s ability to hold key support levels, may be an encouraging sign that broader crypto market conditions are gradually improving.
In short, while Bitcoin continues to face significant macroeconomic, geopolitical, and market specific challenges, its ability to withstand this pressure could be a stronger bullish signal than many investors realize.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
