A well-known analyst, famed for his optimistic outlook, expressed satisfaction with Bitcoin’s 2% rebound on the first day of May. He predicts further gains are on the horizon. So, what’s the latest for Bitcoin in the ETF channel? Which price levels could Bitcoin test this month? Today, we explore the answers to these crucial questions.
Poppe’s price outlook for BTC
Progress toward a permanent agreement with Iran remains elusive, even though former President Trump said there were only “a few days left” a week ago. Now, speculation is swirling in regional media that Iran’s Foreign Minister could be dismissed, undermining Trump’s earlier claim of “regime change” in the country. In May, a conclusive development is widely expected regarding Iran. Should the United States lift sanctions and Iran return to the negotiating table, an agreement could materialize. Otherwise, renewed conflict in the coming days is likely.
Turning to Bitcoin, Poppe says that this week’s recovery was no surprise, given BTC’s tendency to remain resilient in early May. However, the move was bolstered by record highs in US stock markets supported by strong earnings reports.
Poppe notes, “The short-term upward trend remains intact, meaning there’s still a chance for higher prices. Clearly, if $79K is breached, the next resistance zone is at $86-88K, and this could restore market confidence. In this environment, altcoins may even outperform Bitcoin.”
ETF flows and bull signals
Data from Farside shows that the ETF pipeline registered just $23.5 million in net inflows yesterday. Over the previous three days, net outflows had ranged between $89.7 million and $263.2 million. Between April 14 and April 27, BTC ETF flows were consistently positive. However, ahead of Wednesday’s Federal Reserve meeting, investors turned cautious and began selling, prompted by fears that inflation could once again delay interest rate cuts.
So where is the current bull signal? That’s visible in the MVRV (Market Value to Realized Value) chart. A sustained recovery in Realized Price, combined with MVRV holding above 1.0, points to a structural shift in the market. According to CryptoQuant, this signal—typical in transitions from bear to bull markets—has once again flashed an alert, although, on its own, it may not be sufficient confirmation.
Still, the guidance from on-chain data and analysts alike suggests an increasingly constructive backdrop for BTC in May. Technical indicators show continued positive momentum, while broader market sentiment has improved compared to recent months.
As fresh macroeconomic developments and potential geopolitical shifts unfold, both traders and investors are closely watching the $79,000 resistance as the key level for further upside in Bitcoin.
Should that threshold be cleared, experts see a path toward $86,000 and even $88,000—levels that could generate renewed optimism among participants in both the spot and derivatives markets.
At the same time, analysts caution that inflows into Bitcoin ETFs and overall market confidence will remain tightly linked to signals from the US monetary policy front, especially as debates about the timing of interest rate cuts continue to sway sentiment.
Finally, with altcoins poised to potentially outshine Bitcoin if risk appetite broadens, market attention is split between spotting the next rally leader and waiting for further constructive ETF data.
