PANews reported on May 31 that, according to Cointelegraph, there is a clear divergence of opinion within the industry regarding the current trend of the crypto market. Economist Timothy Peterson stated that Bitcoin may experience a slow rise during the summer, reaching a temporary peak by the end of July, followed by a relatively flat performance.

However, Michael van de Popper, founder of MN Trading Capital, believes that Bitcoin touched a low of $60,000 in February this year, but the market structure is different from that period of decline in February. Whether the key support zone can be held will determine whether a deeper correction can be avoided. We are currently at a critical juncture. If the $71,000 support level is held, Bitcoin may break through to $76,000, which may trigger a broader rise in the crypto market and usher in a strong altcoin market. However, if the $70,000 support level cannot be held, it may quickly fall to the $65,000 level.