- MN Trading founder Michael van de Poppe noted Bitcoin’s achievements during the Middle East conflict, with a 25% increase.
- In his opinion, this makes Bitcoin an atypical risky asset.
The global financial landscape is currently under pressure from geopolitical conflicts and changing macroeconomic indicatorsSuch uncertainty has often triggered capital flight into traditional safe-haven assets or cash.
On According to According to cryptocurrency analyst and MN Trading founder Michael van de Poppe, Bitcoin’s recent price action demonstrates that it differs from traditional risk assets.
While some still fear a decline to new local lows, a deeper analysis paints a different picture. In fact, Bitcoin does not show weakness and consolidates its achievements during a period of serious global upheaval.
Van de Poppe’s confidence is based on the fact that Bitcoin’s response to the geopolitical conflict in the Middle East has been commendable. Despite the uncertainty such events typically bring to global markets, Bitcoin has managed to rise 25% from its recent lows.
This upward trajectory coincided with a sharp rise in US Treasury yields, while The yield on 10-year bonds rose above 4,50%In traditional finance, rising bond yields typically put downward pressure on non-yielding assets like gold and risky assets like tech stocks and cryptocurrencies. Bitcoin’s 25% gain diverges from historical correlations. This indicates strong institutional and retail demand, independent of macroeconomic pressures.
Rather than viewing the ongoing price consolidation as the start of a bear market, Van de Poppe believes it is precisely this resilience that gives Bitcoin its edge over other asset classes.
From a technical point of view, the market is in a consolidation phase, not a momentum reversal. And although Bitcoin fell below its 21-day moving average, it held its ground above the critical support zone to $ 76,000.
The expert believes that maintaining the price above $76,000 is crucial for the long-term recovery structure. Furthermore, on the Chicago Mercantile Exchange (CME) is observed a noticeable gap at $79,100, which can be considered a benchmark for the future price.
CME CF Index Bitcoin Reference Rate (BRR)
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