Bitcoin (BTC) first broke above $80,000 on May 4. While exciting, this upward development triggered a split in crypto Twitter. There are those who think the move marks the end of months-long consolidation and the onset of a bull run. On the other hand, some see it as a false breakout, calling for prices as low as $30,000 before a bullish reversal begins. One prominent crypto trader has listed the reasons he believes in a bullish setup.
For one, Michaël van de Poppe is convinced, “there won’t be any rate hikes in the coming future.” According to the CME FedWatch Tool, there is a 95.9% probability that US interest rates will remain unchanged within the current 3.50%-3.75% range. Unwavering or low rates typically trigger bullish sentiment.
Secondly, the trader notes “enormous growth within a lot of companies,” and that “crypto will be used as the ultimate rails for AI to provide payments on.” According to Q1, 2026 earnings reports, tech and AI-related companies have seen 40%+ growth, with a positive spillover to financial and industrial companies, among others. Blended year-over-year (YoY) earnings per share growth for the S&P 500 is tracking at 27%-28%, marking the highest quarterly growth since Q4 2021. Meanwhile, blended YoY revenue growth is around 11.3%, marking the highest since Q2/Q3 2022.
Thirdly, ETF net inflows have been strongly positive in the past year, driven by heavy institutional buying.
Source: Bitbo.io
Other potentially advantageous developments for BTC include the upcoming CLARITY Act vote, talks of a BTC strategic reserve, and the appointment of a new pro-crypto Fed Chair.
At press time, Bitcoin was trading at $81,717, just slightly above its 21-day moving average support zone of $80,955. Maintaining this level is critical for a push towards the next resistance target of $85,000-$88,000, which would again form the basis for a rally to $100K.
Source: Trading View
That said, a major headwind is the current delicate situation between the US and Iran and its ramifications for global markets (including higher energy prices and inflation).
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