Analysts say Bitcoin is at a key price level; if it fails to hold, it could fall below $65,000.

CoinFeed reported on May 31 that Michael van de Poppe, founder of MN Trading Capital, posted on the X platform, stating, "Bitcoin is at a key price level; if it fails to hold, it will fall below $65,000." However, he believes a new low is unlikely. In that case, Bitcoin would fall below $61,000, where the 200-day moving average is located, making further declines meaningless as this would not yield positive results in any market cycle. However, this structure differs from the February decline. This is because the resistance level from February failed to turn into support. Currently, the $71,000 area remains a key support level, which Poppe believes must hold to prevent further pullbacks.