Bitcoin fall lacks broad market justification, Michael van de Poppe argues

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Jose Antonio Gastelum

1 hour ago

Bitcoin fall lacks broad market justification, Michael van de Poppe argues — Bitcoin move not like FTX or Luna events

Michael van de Poppe states that the current market move is not comparable to the events surrounding FTX or Luna.

He characterizes it as a leveraged event and believes the market is overvaluing the impact of STRC on Bitcoin markets. According to him, there is no clear reason for Bitcoin to continue falling in a broader market sense.

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Van de Poppe recently identified $66,000 and $61,000 as important support levels for Bitcoin, highlighting the role of the 200-week moving average in price action in a prior analysis. He has also noted ETH's lowest daily relative strength index on record, calling it a possible signal that the bear market could be approaching its end in a separate post.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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