Analyst Michaël van de Poppe shared two new market updates, highlighting Bitcoin’s ongoing consolidation and a potential bullish reversal forming in NEAR Protocol (NEAR) against Bitcoin.
Bitcoin Holding the Higher-Low Structure
Van de Poppe noted that Bitcoin’s failure to hold above $112,000 does not invalidate the broader uptrend structure. He reaffirmed that his “dip and higher-low” thesis remains intact and expects the next bullish impulse once BTC breaks back above the $112K resistance zone.
“Preferably, I’d like to see a breakout above $112K taking place,” he wrote. “That would trigger the run toward the all-time high, which I still believe is going to happen in November.”
The accompanying chart highlights a well-defined trading range between $107K and $116K, aligning with other analysts’ observations that Bitcoin is coiling for a directional move. A confirmed breakout could open the door to retesting the $126K region, the previous cycle high.
NEAR vs BTC Shows Massive Bullish Divergence
In a separate post, Van de Poppe pointed out a large bullish divergence in NEAR/BTC, suggesting that the altcoin may be entering its accumulation phase. He emphasized that the divergence, visible on higher timeframes, indicates growing buyer pressure and structural strength.
“This bullish divergence signals that we’re accumulating at this point and that there’s a big surge around the corner,” he explained. “Given how price is holding up nicely here, I don’t think we’ll be seeing these prices for long.”
His chart shows a rounded bottom formation, with potential target zones identified near 0.00035 BTC and 0.0007 BTC, corresponding to NEAR’s prior resistance levels.
Market Context
Van de Poppe’s outlook comes amid renewed market optimism following a rotation into spot Bitcoin buying and the Federal Reserve’s rate cut earlier this week. While short-term volatility persists, the combination of a resilient BTC structure and emerging altcoin setups like NEAR suggests that accumulation opportunities remain across the market heading into November.