TechFlow News, May 31: According to a Cointelegraph report, industry participants are sharply divided on the current trajectory of the crypto market. Economist Timothy Peterson stated that Bitcoin may experience a gradual uptrend over the summer, peaking by the end of July and delivering relatively muted performance.
However, Michael van de Poppe, founder of MN Trading Capital, believes that although Bitcoin hit a $60,000 low in February this year, the market structure differs significantly from that during the February downturn. Whether key support levels hold will determine whether a deeper correction can be avoided. The market is currently at a critical juncture: if the $71,000 support level holds, Bitcoin could rally further to $76,000—potentially triggering a broader crypto market upswing and ushering in a strong altcoin season. Conversely, failure to hold the $70,000 support level could lead to a swift drop toward $65,000.
