As Crypto Prices and Sentiment Fall, One Analyst Says Bitcoin’s Back Slide Is Almost Over

As Crypto Prices and Sentiment Fall, One Analyst Says Bitcoins Back Slide Is Almost Over

After a week of falling prices for crypto led by Bitcoin (BTC), a widely-followed analyst says the bottom is nearly in.

Crypto trader Michaël van de Poppe warns his 715,600 followers on the social media platform X that it could still take some time for BTC to recover from falling nearly 7% in the last two weeks.

BTC is worth $59,290 at time of writing, up 4% in the last 24 hours.

Pulling back the curtain on altcoins, Van de Poppe says this slump should be expected after the long hibernation of a bear market.

Looking specifically at the Ethereum (ETH) layer-2 altcoin Optimism (OP), the analyst remains optimistic about the tokens future.

Source: Michaël van de Poppe/X

OP is worth $2.77 at time of writing, up 9% on the day.

Focusing on the leading altcoin by market cap Ethereum, the crypto analyst thinks ETH could drop to $2,500 before rallying.

ETH is trading for $2,997 at time of writing, up 4% since yesterday.

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