Bitcoin Holds $76K Support as Analysts Split on Next Move, New Highs Still in Sight

• Bitcoin holds above $76K support as analysts watch for a possible breakout or deeper correction.
• Over $700M in liquidations hit the crypto market as Bitcoin and major altcoins lost momentum.
• Analysts remain split, with some targeting new Bitcoin highs while others warn of weak market structure.

Bitcoin is facing growing short-term uncertainty as analysts debate whether the market is preparing for another breakout or losing momentum after weeks of consolidation.

The largest cryptocurrency is trading around $78,000, down roughly 3% over the past 24 hours, while altcoins continue to weaken alongside Bitcoin’s sideways movement.

Notably, amid the ongoing dip, the crypto market has nearly $700 million in liquidations over the past 24 hours, affecting over 153,500 traders.

Michaël van de Poppe on Bitcoin Moves

In a tweet, analyst Michaël van de Poppe said Bitcoin is still holding above a key support level despite recent market weakness.

According to van de Poppe, none of Bitcoin’s major support zones have been lost yet. The analyst is specifically watching the $76,000 level as a critical area for bulls to defend. He noted that if momentum returns next week, the market could present strong short-term opportunities for traders and investors.

However, the analyst also warned that caution is necessary because an important market indicator has already broken down. This suggests that the current consolidation phase could continue longer than expected.

Altcoins Continue Losing Strength

Bitcoin’s lack of upward momentum is also putting pressure on the broader crypto market. As BTC consolidates below recent highs, many altcoins have struggled to maintain buying pressure.

For context, BNB is down 4.67% over the past day, while Solana has dropped even more by 5.65%.

Historically, altcoins tend to outperform when Bitcoin stabilizes after a strong rally. But during uncertain periods like the current one, traders often rotate capital back into Bitcoin or move into cash, weakening momentum across the rest of the market.

Van de Poppe believes the coming week could be decisive in determining whether the crypto market regains bullish momentum or extends its correction phase.

Analyst Says Bitcoin Still on Track for New Highs

Separately, crypto analyst Kaleo shared a longer-term bullish outlook, arguing that investors are focusing too heavily on short-term volatility.

Using a multi-year Bitcoin chart, Kaleo pointed out that the market’s projected lower range continues to rise over time, even during corrections.

The chart highlighted Bitcoin moving within a large rising structure that has remained intact since the 2020 market cycle. According to Kaleo, this suggests that higher price targets and new all-time highs are still possible later this year despite current weakness.

The analyst advised investors to “zoom out” instead of reacting emotionally to short-term price swings, emphasizing that Bitcoin’s long-term trend is still bullish. In particular, he projects BTC prices as high as $340,000 by 2027.

Concerns Grow Over Weak Market Structure

Not all analysts are optimistic in the near term. Market commentator WyckArchitect argued that Bitcoin’s recent rally may have lacked a solid bullish foundation compared to the stock market.

According to the analyst, Bitcoin’s sharp move from the $60,000 region to $80,000 occurred too quickly, without first forming a strong accumulation base. In contrast, the Nasdaq and stock market spent more time building support before pushing higher.

WyckArchitect added that while Bitcoin often follows the stock market’s direction over the long term, there have been periods when equities continued to rally while crypto markets lagged behind or declined sharply.

The comments reflect uncertainty among traders as Bitcoin attempts to stabilize after failing to break decisively into a new price discovery phase.

For now, some analysts are focusing on whether Bitcoin can maintain support above $76,000. A successful defense of that level could strengthen bullish sentiment again, while a breakdown may trigger additional weakness across the crypto market.

Related: Bitcoin Holds Above $77K as Analysts Debate Path Toward $93K