Written by Ciaran Lyons, Staff Writer. Reviewed by Felix Ng, Staff Editor.
Written by Ciaran Lyons, Staff Writer.
Reviewed by Felix Ng, Staff Editor.
Bitcoin doesn’t need a fresh narrative to reclaim $100K: Analyst
Latest NewsPublishedMay 2, 2026
Why Bitcoin May Not Need a New Narrative to Reach $100,000
As the focus shifts to other technology sectors, many believe that Bitcoin needs a strong narrative to drive its price higher. However, according to Michael van de Poppe, founder of MN Trading Capital, this may not be the case. Van de Poppe suggests that Bitcoin can push back above the $100,000 level without a new story or catalyst. Instead, he believes that the price will move upwards and create its own narrative.
The current attention on AI and other sectors has taken the spotlight away from Bitcoin, with Nvidia’s stock price up 5.08% since January 1, while Bitcoin is down around 10% over the same period. Despite this, Bitcoin has shown a 14.49% increase over the past 30 days. Some market participants attribute the recent downtrend to the lack of a strong narrative, but van de Poppe’s perspective offers a different view.
Potential Catalysts for Bitcoin’s Price
Many potential catalysts have been discussed, including US Federal Reserve interest rate decisions, regulatory developments, and spot Bitcoin exchange-traded fund (ETF) inflows. The passage of the US CLARITY Act, which aims to provide clearer rules for the industry, is also seen as a potential driver of Bitcoin’s upside. However, veteran trader Peter Brandt believes that while the CLARITY Act is a positive step, it is unlikely to be a major catalyst for upward movement in Bitcoin’s price.
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“That’s why simply using math, statistics, and logic is required in order to succeed, and that’s why these regions on Bitcoin are still good for accumulation.”
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Bitcoin hasn’t traded above $100,000 in almost five months
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Bitcoin is up 14.49% over the past 30 days. Source: CoinMarketCap
Many crypto market participants still believe that Bitcoin needs a strong narrative to drive its price higher. In recent times, attention has centered on US Federal Reserve interest rate decisions, regulatory developments in the US, and spot Bitcoin exchange-traded fund (ETF) inflows as potential catalysts.
Some also point to the potential passage of the US CLARITY Act, which aims to provide clearer rules for the industry, as a possible driver of Bitcoin’s upside.
Some say the CLARITY Act will not boost Bitcoin’s price
Others are not so sure. Veteran trader Peter Brandt told Cointelegraph in December that the CLARITY Act would be a positive step for the industry, but is unlikely to act as a major catalyst for upward movement in Bitcoin’s price.
Related: Repeated Bitcoin profit taking near $77K suggests rally is losing steam
“Is it a world-shaking macro development? Nope. Needed for sure, but not something that should redefine value,” Brandt said.
Coinbase chief legal officer Faryar Shirzad said on Friday that “It’s time” for the CLARITY Act to be finalized after new stablecoin yield provisions were published on Friday.
Meanwhile, White House crypto advisor Patrick Witt said at the Bitcoin Conference in Las Vegas this week that a “big announcement” on US President Donald Trump’s Bitcoin reserve is coming within weeks.
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