Crypto Strategist Michaël van de Poppe’s Outlook on Bitcoin

Crypto strategist Michaël van de Poppe outlines a potential path for Bitcoin (BTC), believing it could set the stage for the next bull market phase.

The analyst shared insights with his 777,600 followers on X, noting that the current bearish sentiment in crypto is at a peak, suggesting that the market’s bottom is near.

Van de Poppe claims Bitcoin’s recent drop below $90,000 aims to target resting buy orders before starting a rally. He states:

> “Bitcoin needs to take all the liquidity. That’s what we’re currently doing. Ultimate bottom case? $83,000-87,000. Then we should be rotating upwards. The current sentiment is extremely peaking to the downside, so that’s likely the case.”

On Monday, Bitcoin fell to a three-month low of $86,141, causing a $1.58 billion liquidation event. As of now, Bitcoin trades at $88,118.

In the altcoin market, Van de Poppe monitors the TOTAL3 chart, an index tracking the market cap of all crypto assets minus Bitcoin, Ethereum (ETH), and stablecoins. He remains optimistic about the altcoin market as long as TOTAL3 stays above a crucial support level:

> “The altcoin market capitalization looks good for continuation upwards. If it stays above $750 billion, we can continue moving toward the next impulse.”

As of now, TOTAL3 is trading at $816.26 billion.

Source: Michaël van de Poppe/X