[DigitalToday reporter Kim Ye-seul (김예슬)] Analysts warned that bitcoin has been moving sideways for a prolonged period below $70,000 and that the likelihood of a sharp rally could increase.

On April 4 (local time), Cointelegraph reported that Michael van de Poppe, founder of MN Trading Capital, wrote in a post on X (Twitter), “The longer the range persists, the heavier the breakout becomes.” He added, “Bitcoin has no direction at all while it remains in this zone, and I expect a break above $71,000.” Bitcoin is expected to move above the $71,000 level for the first time since March 26.

Bitcoin has recovered from its yearly low of $60,000 on Feb. 6 and has formed a narrow range between $60,000 and $74,000. CoinMarketCap put bitcoin at $66,890 at the time of publication, down 8.25 percent over the past 30 days.

With unease spreading across the broader crypto market, the crypto fear and greed index remained in the “extreme fear” zone at 11 points. That indicates investor sentiment is still subdued. Some analysts maintained a pessimistic outlook. Crypto analyst Ted said, “$60,000 is not the bottom,” adding, “An additional 50 percent plunge will not happen.” He added, “There will be a final capitulation period ahead of the bottom.”

Bitcoin analyst Willy Woo warned in a March 30 post on X that if a bearish trend in global macroeconomics persists, a deeper bear market is likely to follow due to a structural breakdown of the bull market.

Veteran trader Peter Brandt said in a recent interview with Cointelegraph, “Bitcoin will not make a new high in 2026,” adding, “There is potential for an advance through the second quarter of 2027.”