Michaël van de Poppe sees Bitcoin nearing a potential bottom, with bearish sentiment reaching extremes.
He suggests that the recent drop below $90,000 was a liquidity grab before the next rally, identifying $83,000-$87,000 as a possible low before an upward reversal.
On Monday, Bitcoin hit a three-month low of $86,141, leading to $1.58 billion in liquidations. Currently, BTC trades at $88,118.
In the altcoin space, Van de Poppe is closely watching the TOTAL3 index, which tracks altcoin market capitalization excluding Bitcoin, Ethereum, and stablecoins. He remains optimistic as long as TOTAL3 stays above $750 billion, seeing it as a key level for continued growth.
Despite short-term uncertainty, Van de Poppe believes that market conditions are setting up for the next bullish phase. He argues that extreme negativity often signals a market bottom, with history showing that such moments have preceded major upswings.
If Bitcoin stabilizes and begins climbing again, altcoins could follow with even stronger momentum.
Bitcoin is entering June with renewed strength as institutional appetite and fresh capital flows continue to shape its trajectory.
After more than four weeks of uninterrupted investor enthusiasm, BlackRock’s iShares Bitcoin Trust has reported its steepest daily outflow since its inception, signaling a potential shift in sentiment.
Pakistan’s aggressive embrace of Bitcoin mining has drawn scrutiny from the International Monetary Fund (IMF), which is now demanding clarity on the country’s allocation of 2,000 megawatts of electricity to digital assets and AI infrastructure.
A new analysis from China’s International Monetary Institute (IMI) suggests that Bitcoin is quietly gaining ground as a serious player in the global reserve system.