💰💰Critical resistance level in Bitcoin: Michael van de Poppe evaluated the decline 💰💰

Despite Bitcoin's price falling below $104,000, the influx of $1.46 billion in capital directed towards ETFs indicates that institutional investors view this decline as a buying opportunity. Crypto analyst Michael van de Poppe states that surpassing $106,000 again could mark the beginning of a strong upward trend.

Recently, while the crypto market has experienced significant fluctuations, the price drop in Bitcoin did not cause panic among investors. According to a post by blockchain data platform Santiment, even though Bitcoin fell below $104,000, the demand for spot Bitcoin ETFs did not cease. In the last five trading days, a total of $1.464 billion net inflow occurred into ETFs. This shows that institutional investors are focusing on long-term growth potential rather than short-term price volatility.

From a technical analysis perspective, Michael van de Poppe describes the recent decline in Bitcoin as a "liquidity clean-up." The market may have experienced a manipulative move where large investors triggered stop-loss orders, pulling the price down and then recovering. Van de Poppe emphasizes that while this recovery is a positive sign, it does not mean that the bottom has been confirmed.

According to the analyst, for Bitcoin to gain a strong upward momentum, it first needs to regain the $106,000 level. If it can maintain above this level, a new bull phase may begin in the market, which could positively affect altcoins as well.

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