Prominent crypto analyst Michaël van de Poppe believes the latest crypto market crash, which saw Ethereum plunge over 10% and Bitcoin slide below key support, is not the start of a new bear market, but rather the aftermath of a massive liquidation event that may soon reverse.
Signs of Forced Selling, Not Market Breakdown
Van de Poppe explained that the current selling pressure isn’t “usual price behavior.” Instead, it reflects large-scale liquidations from overleveraged traders or forced asset sales. Bitcoin, he noted, continued “falling down and down, no bounce,” while Ethereum “collapsed entirely,” signaling that major market participants may have been unwinding or liquidated positions.
It always takes some weeks to visually appear whether someone got liquidated after a big liquidation event.
Todays price selling isn't usual price behavior. #Bitcoin kept falling down and down, no bounce, while we're hitting crucial levels. $ETH, on the other hand, dropped…
— Michaël van de Poppe (@CryptoMichNL) November 4, 2025
Interestingly, most altcoins remained relatively stable, suggesting the market stress was concentrated in large-cap assets rather than a full-scale collapse. According to van de Poppe, this pattern indicates a technical flush-out rather than a structural breakdown, a situation that “reverses quite fast.”
“Be Calm – You’ll Be All Right”
In a follow-up post from New York, van de Poppe highlighted an unprecedented disconnect between institutional adoption and retail sentiment. While retail investors are panicking and assuming the bull market is over, he claims institutions are quietly expanding their exposure and activity in the space.
“There’s so much happening,” he said. “Don’t sell your positions. Be calm, have patience, you’ll be all right.”
I completely understand it when you think that the markets are dead, the bear market has started and #Altcoins are vanishing away.
However, here, in New York, during this week, the disconnect between retail token holders and institutional adoption has never been this big before.…
— Michaël van de Poppe (@CryptoMichNL) November 4, 2025
Van de Poppe’s comments echo a broader sentiment among experienced traders: that emotional capitulation often marks the end of corrections, not the beginning of long-term downturns.
