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Bitcoin (BTC) Bulls Eyeing $70,000 Again, Ethereum and Other Altcoins Set to Follow Suit, Predicts Analyst

The price of Bitcoin (BTC) has experienced a notable decline after reaching a new all-time high in mid-March. The price then retraced to $60,000 within a week before showing signs of recovery. This period of decline was seen as a time when many traders started taking profits after the excitement of the new all-time high.

Various on-chain analyses also show a large number of whale wallet withdrawals following this period, which forced the price to decline. At the time of writing, the price has been recovering and has risen to $66,800. As a result, various analysts are conducting research to determine where the price might be headed next and the factors that could trigger it.

One of the analysts is the popular Michaël van de Poppe, CEO and founder of MN Trading, who is followed by more than 700 thousand people on X. In a recent post, the analyst predicted that Bitcoin price will reach $70,000 again this week based on factors he has revealed in his analysis.

Looking at the weekly candles across the markets, it seems like we're relatively bottoming out for most of the License.

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