Michael van de Poppe warns of ongoing Bitcoin correction as whales accumulate holdings

Renowned crypto analyst Michael van de Poppe has recently warned of a sustained downward movement in Bitcoin. MN Capital founder indicated that BTC is in a critical consolidation phase and showing clear signs of weakness. This warning comes at a time when Bitcoin’s price is under pressure and multiple market factors are converging that could lead to further decline.

Whales Accumulate Positions on Exchanges – Signs of Increased Selling Pressure

CryptoQuant’s on-chain data points to notable activity among large investors. According to CryptoQuant’s whale tracker, these major market participants have recently deposited over $400 million worth of Bitcoin into spot exchanges. This marks the second significant influx in a short period—a pattern that has historically been associated with increased selling pressure.

Amr Taha, an analyst at CryptoQuant, highlighted in his analysis that these exchange inflows are a critical signal. Elevated activity in whale wallets typically indicates an intention to sell off positions. Data also suggests that a distribution phase may be underway, as institutional and large private investors secure their profits.

Long-Term Holders Accelerate Profit Taking – LTH Trend Turns Negative

Another factor contributing to current market dynamics is the behavior of the long-term holder community. According to Glassnode data, long-term holders have intensified their selling activity. In the past 30 days, approximately 68,650 BTC have been offloaded by long-term investors—volumes that reflect increasing profit-taking.

The net position change of LTHs has remained mostly negative since the beginning of the year. This indicates that experienced and patient market participants are gradually reducing their holdings during market rallies—such as the recent surge to nearly $100,000. However, a positive sign for bulls is that these selling levels resemble a historical low from December, which later reversed into a recovery.

Critical Support Zones According to Michael van de Poppe

Michael van de Poppe commented on the technical situation, emphasizing that Bitcoin is in a range resembling a breakout that is now rapidly correcting. He estimates that the market is approaching a potential support zone between $84,000 and $86,000—a range that could be crucial for stabilization.

The four-hour chart, according to van de Poppe’s analysis, shows the Relative Strength Index (RSI) in oversold territory—similar to during the earlier dip to $80,000. This could indicate a potential bottom formation, provided that prices find support in this area.

Analysts suggest that a break below the 20-day exponential moving average ($92,000) and the 50-day simple moving average ($90,000) could push Bitcoin’s price further toward the $84,000 zone. If this support is also broken, even lower levels may come into focus.

Outlook and Technical Perspective

The current market situation reflects a phase where major market participants are reassessing their positions. The combination of increased whale selling pressure and intensified profit-taking by long-term holders creates downward pressure that could persist. On the other hand, oversold technical indicators and the historical parallels to previous lows suggest that a recovery opportunity may be emerging in the $84,000 to $86,000 range.

Michael van de Poppe remains cautious and emphasizes that geopolitical factors have also gained importance—adding volatility. Technically, certain conditions have been established that could signal an upcoming trend reversal, but confirmation through price action is awaited.

Note: This article does not constitute investment advice. Investment and trading decisions carry significant risks. Readers should conduct their own research and consult professional advisors before making financial decisions.