According to @CryptoMichNL, the market just saw its most volatile day in the past 3 months across his fund, venture, and personal day trading, source: @CryptoMichNL. He expects Bitcoin (BTC) and altcoins to sweep recent lows and sustain 1–2 weeks of downward momentum before an up-only season, source: @CryptoMichNL. He adds that trading is highly hands-on right now and that markets are likely not out of the woods yet, source: @CryptoMichNL.

According to Michaël van de Poppe, Bitcoin is currently experiencing downward momentum, characterized by a trend of lower highs and lower lows. The analysis indicates a potential test at the current lows before any potential reversal. This suggests traders should remain cautious and consider the ongoing bearish trend when making decisions. [Source: Michaël van de Poppe on Twitter]