Analysis predicts Bitcoin to experience a probable price drop in the next 2 weeks

Bitcoin (BTC) declined as the Wall Street market opened on April 26, as trading conditions remained unfavorable for bulls. BTC/USD’s 1-hour chart showed the price dropping from its highs of $65,300 to the daily close. The market was dominated by a stubborn trading range, impacted by weak performance from the US spot Bitcoin exchange-traded funds (ETFs) and problematic macroeconomic data. The Bitcoin ETFs experienced net outflows of over $200 million, which disrupted what initially seemed like a promising start to the week. This led to a lackluster mood in the crypto market, with some suggesting that the Bitcoin price trend could remain absent for a longer period. However, Michaël van de Poppe, the founder and CEO of trading firm MNTrading, predicted that altcoins would diverge significantly and bring the anticipated gains. Bitcoin’s dominance of the overall crypto market cap was at 55% on the day, down from its peak of 57% on April 13, which was the highest level in two years. Analysts noted that the next two weeks would be a classic time for BTC price lows, particularly in relation to the block subsidy halving. However, this article does not provide investment advice, and readers should conduct their own research before making any decisions.