The crypto analyst, Michaël van de Poppe, published an essential update concerning the current price dynamics of Bitcoin and all its outcomes, which indicate a problematic market consolidation period that will precede the next price breakout.
Van de Poppe tweeted on X, saying that the more Bitcoin goes higher, the better the altcoins are going to do. But one thing that he pointed out was with a word of caution: that should the liquidity grab element manifest itself in Bitcoin, then we can expect some strong corrections in the altcoin market too.
Michaël van de Poppe: Altcoins Shine When Bitcoin Moves Sideways
Michaël van de Poppe dictated that the trend of sideways pricing of Bitcoin is likely to work with the altcoins. Whenever BTC demonstrates a lack of volatility, traders tend to rotate capital into altcoins, which give them space to rally.
That is still a weak window. He wrote, in regard to liquidity capture on the downside and the correction of Bitcoin, when this happens, the corrections in the altcoins can be brutal.
Key BTC Levels: $110K Entry Zone in Focus
There are several important zones that can be pointed out using the accompanying chart. Bitcoin liquidated recently and presently trades at approximately 118.6K.
Michaël van de Poppe suggested that the range of 110K would be the ideal area to make entries, as even a slide to the area would present an excellent buying opportunity and a subsequent move to new all-time highs may likely emerge. He also added that the second option for spot entry is $100K.
He also noted that once BTC crosses above the level of 120K, then there is a possibility that the current price activity may increase faster than the last time BTC surpassed the levels of $106.5K.
Market Awaits Next Move
Michaël van de Poppe ended his post by stating that Bitcoin would probably grind to a halt before starting a new rise, saying that Bitcoin will perhaps consolidate in the sideways direction as regards its next rise.
The consolidation may provide long-term investors and swing traders strategic entry window.
The key point of interest by market watchers is whether Bitcoin will face another test at the key level of support at $110K or begin to gain momentum to retake the $120K and above.
Until then, hype is not out of the game, at least not of altcoin traders who are to face a potentially dramatic correction.
