The crypto market is currently down. The price of ETH, SOL, XRP, and many other major altcoins are down by between 3% and 10%. The main cause of this seems to be Bitcoin price being down. The price of the coin has dipped and for a long time now, BTC has determined the price direction of many other altcoins.
In response to the market dip, some analysts have posted charts and shared insights to help traders make sense of what’s happening. One of them is Michaël van de Poppe.
What you'll learn 👉
Top Analyst Says It’s All About Liquidity Zones
Michaël van de Poppe, also known as @CryptoMichNL on X, pointed out that Bitcoin has started taking out liquidity from certain regions on the chart. He noted that it’s likely Bitcoin will keep dipping in the short term, but that this current zone might actually be where reversal could start.
According to him, this is where smart investors should start paying attention, because this area is often where new buyers begin to step in. He also pointed out the timing of the dip, hinting at a possible reversal ahead of the FOMC (Federal Open Market Committee) meeting. In his own words:
“There we go for #Bitcoin. Liquidity starts to be taken from those regions, through which it’s very likely that we’ll go down some more. However, this is the zone where you want to become interested, as this is where the liquidity comes in for the actual reversal. FOMC tomorrow –> usually bottom the day before.”
Looking at his chart, Bitcoin recently dropped from around $108,000 to below $105,000. The key area to watch, according to him, is around $105,500. If BTC drops below that level, there could be another wave of downside pressure, possibly taking the price closer to $100,000.
However, if a reversal happens here, then a bounce back toward $108,000 or even $110,500 is possible. That higher level, marked clearly in red on the chart, is where upward momentum could truly begin again.
One Last Dip Before New Highs
Another voice in the conversation is Mr. Wall Street (@mrofwallstreet). He shared a simple but powerful idea: Bitcoin might go a bit lower before it goes much higher.
From his chart, we can see that BTC has been following a clear pattern. The price keeps bouncing off a long-term moving average, shown in purple. Each time it touches that line, it rebounds strongly. Based on that pattern, he’s suggesting that Bitcoin might dip one more time, possibly to the $90,000 range, before starting another sharp move to the upside.
He captioned the chart like this:
“#Bitcoin will go lower before going higher. Golden line levels are for longing heavily. Soon all doubters are fully silent again.”
In short, he believes this dip is part of a larger bullish structure. As long as BTC continues respecting that moving average, the uptrend remains intact.
Could a Bounce in BTC Help the Whole Market?
When Bitcoin stabilizes or moves up, the rest of the crypto market usually follows. That’s why this current dip is so significant. If Bitcoin continues falling, altcoins like XRP, SOL, and ETH could remain under pressure. But if it finds support soon, especially around the key zones both analysts pointed out, the rest of the market could quickly turn around too.
Read Also: Bitcoin Cash (BCH) Could 4x Soon: Here Is What’s Fueling the Surge
For now, all eyes are on Bitcoin’s next move. Will it hold the support zone just above $100,000 or slide toward $90,000 before bouncing back? Whichever way it plays out, the outcome will likely shape what happens next for Ripple, XRP price, and the broader crypto market.
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