Trader Says Bitcoin Primed for More Downside Before ‘Up-Only Mode,’ Updates Outlook on Ethereum
Crypto trader Michaël van de Poppe says that Bitcoin ( BTC ) may have a deeper correction before an explosive move to the upside.
Van de Poppe tells his 808,600 followers on X that Bitcoin may decline below its current $111,000 range before entering a period of bullish momentum.
“I would assume that we’ll be going to get some more downside and then we’re done for the current period, meaning that we’ll be in up-only mode.”
Source: Michaël van de Poppe/X
Looking at his chart, the trader suggests Bitcoin may retest the level around $108,000 similar to late August.
Bitcoin is trading for $111,075 at time of writing, down 2.3% in the last 24 hours.
Next up, the analyst says that Ethereum ( ETH ) may form a local market bottom around the $3,800 level.
“I don’t think there’s much more downside to come. Would suggest that the green zone is where we’ll be bottoming out. Perhaps another 5% drop on ETH and that should be it.”
Source: Michaël van de Poppe/X
The analyst also predicts that ETH will hit five-figures this cycle and other altcoins may increase 400% from their current values.
“It’s near the bottom on altcoins and ETH. What’s next? ETH at $10,000. Altcoins to go 3-5x. It’s not the end of the bull market, it’s the start of the bull market and recent listings have shown proof of this.”
ETH is trading for $4,002 at time of writing, down 4.5% in the last 24 hours.
Generated Image: Midjourney
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Local Infrastructure and Property Development in Webster, NY: The Role of Municipal Funding and Targeted Revitalization in Driving Sustainable Expansion and
- Webster , NY, transformed a 300-acre brownfield into a high-tech industrial hub using a $9.8M FAST NY grant, attracting $650M private investment and 250 jobs. - Infrastructure upgrades, including road realignments and sewer systems, made the NEAT site "shovel-ready," boosting residential property values by 10.1%. - Municipal projects like the Webster Economic Access Program enhanced connectivity, turning underutilized land into a magnet for logistics firms and developers. - The phased development model,

Opportunities Arising from Redeveloping Post-Industrial Land: An Analysis of Webster, NY
- Webster , NY, transformed the former Xerox campus into a thriving economic hub via infrastructure upgrades and municipal reorganization. - Reclassifying the site as a "bluefield" resolved environmental issues, enabling mixed-use development and attracting investors. - The $650M fairlife® dairy plant, supported by tax incentives, is projected to create 250 jobs and boost property values by 10.1% annually. - State grants and BOA incentives streamlined permitting and reduced risks for large-scale industrial

Bitcoin cash holds above $500 as whales accumulate; analysts eye potential rally

Amundi, Europe’s biggest asset manager, tokenises money market fund on Ethereum

