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Trader Says Bitcoin Primed for More Downside Before ‘Up-Only Mode,’ Updates Outlook on Ethereum

Trader Says Bitcoin Primed for More Downside Before ‘Up-Only Mode,’ Updates Outlook on Ethereum

Daily HodlDaily Hodl2025/09/24 16:00
By:by Daily Hodl Staff

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.”

Trader Says Bitcoin Primed for More Downside Before ‘Up-Only Mode,’ Updates Outlook on Ethereum image 0 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.”

Trader Says Bitcoin Primed for More Downside Before ‘Up-Only Mode,’ Updates Outlook on Ethereum image 1 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

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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.

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