Bitcoin, which experienced a 5% decrease in value last week, is expected to see some developments, according to cryptocurrency analyst Michaël van de Poppe. Van de Poppe believes that the recent consolidation in the market is a normal occurrence and may lead to an upward bounce scenario. He also mentioned that the dominance of Bitcoin may have reached its peak, and the approval of Ethereum ETFs could trigger a rotation towards altcoins. Additionally, van de Poppe noted a decrease in the actual mining hash rate of the Bitcoin network, suggesting that miners are approaching a capitulation zone. Despite these challenges, the analyst remains optimistic and expects the cryptocurrency market to make a comeback in the near future. However, it’s important to note that this information should not be considered investment advice.
