TechFlow to a report by Cointelegraph on May 2nd, Michael van de Poppe, founder of MN Trading Capital, stated on the X platform that Bitcoin does not need a new narrative or catalyst to return to the psychological level of $100,000. He pointed out that "as prices rise, the narrative will emerge on its own," and believes that the current price level is still a good accumulation range.
van de Poppe also pointed out that market attention has shifted to technology sectors such as AI in recent months. As of Friday's close, Nvidia (NVDA) stock is up 5.08% year-to-date, while Bitcoin is down about 10% over the same period. Bitcoin last reached $100,000 on November 13th of last year, and fell to a low of $60,000 in February. At the time of writing, it was trading at $78,250, up 14.49% in the past 30 days.
Veteran trader Peter Blandt previously told Cointelegraph that the Clarity Act is a positive development for the industry, but unlikely to be a major catalyst for a significant surge in Bitcoin prices. Coinbase Chief Legal Officer Faryar Shirzad stated on Friday that the Clarity Act was "time" to be finalized after the new stablecoin yield terms were announced. Furthermore, White House crypto advisor Patrick Witt stated at the Bitcoin Conference in Las Vegas this week that a "major announcement" regarding the Trump administration's Bitcoin reserves would be released within weeks.
