MN Trading Capital Founder: Bitcoin May Not Need New Narrative to Return to $100,000

Odaily reported that Michael van de Poppe, founder of MN Trading Capital, stated that Bitcoin may not need a new market narrative to drive its return to the $100,000 mark, as narratives will naturally form after a price increase. He pointed out that the current market focus has shifted to areas like AI, putting short-term pressure on Bitcoin's performance. However, from a mathematical and statistical perspective, the current price range still offers value for accumulation.

Data shows that Bitcoin has not surpassed the $100,000 mark in nearly five months. The price has recovered from a low of around $60,000 in February this year to approximately $78,000, with a gain of about 14.49% over the past 30 days. The market is generally focused on potential catalysts such as the Federal Reserve's interest rate policy, regulatory progress, and inflows into Bitcoin spot ETFs. However, some believe that even if the US CLARITY Act is enacted, its direct impact on Bitcoin's price will be limited. (Cointelegraph)