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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-eyes-70000-milestone-as-market-consolidates/" data-wpel-link="internal">Bitcoin Eyes $70,000 Milestone as Market Consolidates</a> 
The cryptocurrency market currently shows signs of consolidation, which is reflected in the weekly candlestick charts. This situation is leading to a slow and predominantly sideways movement in the price of <a href="https://coin-turk.com/sicak-gelisme-178-milyar-dolar-degere-sahip-bitcoine-el-koyuldu-bakin-artik-kimin-elinde" data-wpel-link="internal">Bitcoin</a> (<a href="https://coin-turk.com/japonya-merkez-bankasi-baskanindan-sert-kripto-para-aciklamasi" data-wpel-link="internal">BTC</a>). Nevertheless, renowned cryptocurrency analyst Michael van de Poppe expects <a href="https://en.coin-turk.com/unfounded-bitcoin-etf-approval-news-fails-to-increase-predicted-volatility/" data-wpel-link="internal">Bitcoin</a> to rise and surpass the $70,000 threshold this week. 
<h2 style="text-align: justify" id="strong-bitcoin-s-70-000-forecast-strong">Bitcoin’s $70,000 Forecast</h2> 
Van de Poppe’s bullish forecast for Bitcoin is based on weekly candlestick formation analysis. The analyst notes that Bitcoin is currently in a consolidation phase and expects it to test levels above $70,000, driven by strong market momentum and increasing investor confidence. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-332820" src="https://coin-turk.com/wp-content/uploads/2024/03/Michael-van-de-Poppe-Bitcoin-BTC.png" alt="" width="550" height="340"> 
Recent developments in the cryptocurrency market, such as Spot Bitcoin ETFs seeing high inflows of $91.6 million on March 24th, are contributing to the positive sentiments surrounding Bitcoin. While BlackRock’s spot Bitcoin ETF IBIT saw the lowest net inflow to date, the $61 million inflow into GBTC helped alleviate some negative sentiments towards spot ETFs. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-332822" src="https://coin-turk.com/wp-content/uploads/2024/03/Mister-Crypto-Bitcoin-BTC.png" alt="" width="552" height="523"> 
In support of Van de Poppe’s optimism, leading cryptocurrency analyst Mister <a href="https://en.coin-turk.com/openai-ceo-prepares-for-cryptocurrency-focused-move/" data-wpel-link="internal">Crypto</a> highlighted that Bitcoin has broken out of a descending triangle formation on the 4-hour chart. This breakout suggests that Bitcoin could retest its all-time high peak level of $73,750 this week, reinforcing the bullish outlook. 
<h2 style="text-align: justify" id="strong-expectations-rise-for-altcoin-market-strong">Expectations Rise for Altcoin Market</h2> 
Amid Bitcoin’s potential rally, Van de Poppe shifts his focus to the <a href="https://coin-turk.com/bakin-rota-bitcoinden-nereye-dondu-iste-turklerin-son-24-saatte-ilgi-duydugu-altcoinler" data-wpel-link="internal">altcoin</a> market, indicating a broader market consolidation. According to the analyst, the altcoin market, which recently emerged from a consolidation phase and surpassed a market value of $1.125 trillion, faces significant days ahead. As Bitcoin’s block reward halving approaches, analysts like Van de Poppe predict it will impact the altcoin market and potentially trigger a market-wide rally. 
Analysts’ forecasts underscore the positive outlook for the cryptocurrency market, continuing to offer promising opportunities for both traders and investors. The cryptocurrency market, with Bitcoin gearing up for a potential breakout and altcoins showing signs of strength, seems to be preparing for more excitement and potential gains in the short term. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-eyes-70000-milestone-as-market-consolidates/" data-wpel-link="internal">Bitcoin Eyes $70,000 Milestone as Market Consolidates</a></h5>

Bitcoin Eyes $70,000 Milestone as Market Consolidates

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