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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/insights-on-cryptocurrency-trends-from-michael-van-de-poppe/" data-wpel-link="internal">Insights on Cryptocurrency Trends from Michael van de Poppe</a> 
The <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> movements in cryptocurrencies are becoming increasingly complex day by day. In this context, statements made by prominent figures in the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> continue to attract attention. Michael van de Poppe, a notable figure in the market, made significant statements about some cryptocurrencies. 
<h2 style="text-align: justify" id="michael-van-de-poppe-s-btc-commentary">Michael Van de Poppe’s BTC Commentary</h2> 
Michael van de Poppe, a closely followed figure in the market, indicated that a decline in hopes for the approval of an <a href="https://en.coin-turk.com/us-lawmakers-challenge-sec-on-ethereum-etf-regulations/" data-wpel-link="internal">Ethereum</a> (ETH) exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC) could trigger a rise in altcoins in the coming days. 
Crypto analyst van de Poppe told his thousands of followers on the social media platform X that Bitcoin (BTC) hovering around $61,000 could play a significant role in awakening altcoins. 
<blockquote> 
 The <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">markets</a> jumped from a critical region to $61,000, and altcoins are awakening. This is the last accumulation period before a major fluctuation. 
</blockquote> 
As of writing, BTC’s price has seen a 3.37% drop over the last 24 hours, trading at $60,733. Despite the price drop, trading volume has risen over 7%, exceeding $27 billion. 
<h2 style="text-align: justify" id="current-status-of-ethereum-and-arbitrum">Current Status of Ethereum and Arbitrum</h2> 
The analyst, who has been examining the altcoin Arbitrum (ARB), especially with a key unlocking happening this week, believes that the ETH layer-2 protocol is nearing the end of its full correction. 
<blockquote> 
 This has a full correction and is in the final stage of that correction. In recent weeks, there has been a major cascade where markets typically filled this wick in the following weeks. In this context, the markets are nearing the end of the correction. 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-350239" src="https://coin-turk.com/wp-content/uploads/2024/05/btc-michael-van-de-poppe-coin-turk-com.png" alt="" width="1138" height="590"> 
ARB continues to trade at the $1 level after experiencing a drop of over 3% as of writing. 
Van de Poppe also highlighted another important issue, noting that the SEC is unlikely to approve an ETH ETF before at least July or August of this year. 
<blockquote> 
 There will be no Ethereum ETF this month. There will likely be a 60-day delay or extension, and during this period, July/August will be significant for the markets. In terms of expectations? The markets will hit bottom in the next 1-2 weeks and will rise again after this news. 
</blockquote> 
ETH, as of writing, is finding buyers at $2,914 after a nearly 4% drop. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/insights-on-cryptocurrency-trends-from-michael-van-de-poppe/" data-wpel-link="internal">Insights on Cryptocurrency Trends from Michael van de Poppe</a></h5>

Insights on Cryptocurrency Trends from Michael van de Poppe

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