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.
Institutional interest in Bitcoin is heating up again, with major asset managers making massive moves.
Tokyo-listed Metaplanet has kicked off its aggressive Bitcoin acquisition plan by securing 74.9 billion yen ($515 million) through new share issuance — the first step in its bid to own 1% of Bitcoin’s total supply.
Trump Media & Technology Group (TMTG), the company behind Truth Social, is ramping up its entry into the crypto investment world.
Investor enthusiasm for U.S.-listed spot Bitcoin ETFs has reached a fresh high, with over $2.2 billion pouring in over the past 11 trading days.