As the Bitcoin market navigates through turbulent times, a compelling analysis from trader Michaël van de Poppe highlights a phenomenal chart that encapsulates the story of the past eighteen months. According to van de Poppe, market expectations have consistently been off the mark, and this pattern is set to continue. For the first time since 2017, he's expressing unprecedented bullishness on the entire cryptocurrency industry, emphasizing that people often underestimate upside potential during extreme bearish downturns. This insight comes at a pivotal moment, suggesting we're closer to the bottom than the top, with any upward bounces likely dismissed as mere bear market rallies in the current disbelief phase.

Bitcoin's Technical Alignment with Gold and Historical Patterns

Diving into the technical arguments, van de Poppe points out that gold has peaked or is nearing its top, historically paving the way for Bitcoin's follow-up rallies. The higher gold climbs, the stronger the impulse on Bitcoin, especially given their inverse pendulum relationship. Currently, Bitcoin's valuation against gold is at its lowest since Bitcoin's inception, signaling a potential rotation. This dynamic has played out in previous cycles, such as in 2020, 2016, and 2011, where gold's stalling preceded Bitcoin surges. From a trading perspective, this correlation offers key opportunities: traders should monitor gold's price movements around $2,500 per ounce as of early 2026 timestamps, watching for Bitcoin breakouts above resistance levels like $60,000 if gold retraces.

Adding to the bullish case, the recent market crash has driven Bitcoin's weekly RSI to its lowest levels since the bottoms in 2018 and 2022, indicating oversold conditions ripe for reversal. This capitulation candle aligns perfectly with the end of bear markets in historical data. For active traders, this means focusing on on-chain metrics: Bitcoin's trading volume spiked during the crash, with over $10 billion in daily volume on major exchanges as of February 8, 2026, per van de Poppe's referenced chart. Pair this with multiple trading pairs like BTC/USD and BTC/ETH, where ETH has shown relative weakness, potentially setting up for altcoin rotations once BTC stabilizes. Support levels around $50,000 could act as a springboard, with resistance at $70,000 marking the next target in a disbelief rally phase.

Fundamental Catalysts Boosting Bitcoin's Upside Potential

Beyond technicals, fundamental shifts reinforce this optimistic outlook. The Clarity Act, slated for implementation in 2026, is expected to enhance on-chain adoption and liquidity, drawing institutional flows into Bitcoin. Recent U.S. job reports from early 2026 revealed weakening economic data, often leading to expansive monetary policies, lower interest rates, and increased money printing—conditions that historically favor risk assets like BTC. A more dovish Federal Reserve chairman could accelerate this, potentially mirroring the 2020 post-pandemic surge where Bitcoin rallied over 300% in months.

In terms of market sentiment, the extreme conditions present prime financial opportunities. Traders should watch for correlations with stock markets: as indices like the S&P 500 face volatility from economic slowdowns, Bitcoin often decouples positively during dovish policy shifts. Institutional inflows, evidenced by rising Bitcoin ETF volumes exceeding $5 billion weekly in Q1 2026, underscore growing adoption. For trading strategies, consider long positions on BTC futures with stop-losses below recent lows, targeting 50% gains if fundamentals materialize. However, risks remain: any delay in rate cuts could prolong the bear phase, so diversify into gold-Bitcoin hedged pairs. Overall, this setup screams undervaluation, with Bitcoin's market cap at around $1 trillion as of the analysis, poised for expansion amid these converging factors. Van de Poppe credits AlemzadehC for the insightful chart, reminding us that the best trades emerge from such downturns.

To optimize trading decisions, focus on real-time indicators: if Bitcoin holds above $55,000 with increasing volume, it could invalidate bearish theses. Long-tail keywords like 'Bitcoin bottom signals 2026' or 'gold Bitcoin correlation trading' highlight searchable insights. In summary, this analysis positions Bitcoin for a significant rebound, blending technical capitulation with fundamental tailwinds, urging traders to act during this disbelief stage for maximum upside.