- Michael van de Poppe says Bitcoin has finished its correction and is ready for new highs.
- Key buy zone sits between $119,500 and $118,000 along the 50-day EMA.
- ETF inflows and leverage reset signal fresh upside momentum.
Crypto analyst Michael van de Poppe believes Bitcoin has completed its corrective phase and is now positioned to continue toward new all-time highs.
Poppe shared a chart which showed BTC trading near $121,600, just below a key resistance zone at $123,288, while identifying a buy-the-dip zone between $119,500 and $118,000. The support area aligns with the 50-day EMA, suggesting that the recent pullback is part of a natural market reset rather than a trend reversal.
Momentum Holds Despite Cooling Indicators
Volume remains consistent, and the RSI sits in a neutral range, indicating that momentum is cooling but not collapsing.
Poppe’s chart suggests a constructive structure as long as BTC holds the $118K support region. A decisive close above $123K would confirm renewed upward momentum and could push Bitcoin toward the $130K zone in short order.
That setup reinforces the idea that the recent decline marked the end of Bitcoin’s correction, not the start of a larger downtrend.
Related: Bitcoin’s Price Now Tracks Global Liquidity Curves, Not Block Rewards
Leverage Reset Clears Path for New BTC Highs
On-chain data from Glassnode confirms that Bitcoin Futures Open Interest remains elevated, while sharp price swings have been flushing out both overleveraged longs and shorts.
This process is part of a broader “leverage reset”, which is commonly followed by massive rallies.
ETF Flows and Institutional Accumulation Reinforce Support
Meanwhile, CryptoQuant highlighted that ETF flows are diverging across issuers. BlackRock’s IBIT continues to absorb selling pressure from entities like Invesco and Grayscale, acting as a stabilizing force for Bitcoin’s price structure.
As per recent data, spot Bitcoin ETFs continue to attract inflows, continuing their nine-day streak on October 9th, raking in $198 million. On the other hand, ETH recorded first outflow in nine consecutive trading days on the same day.
The market’s resilience, therefore, rests heavily on BlackRock’s sustained buying activity. Analysts warn that slowdown in IBIT inflows could temporarily weaken Bitcoin’s upward momentum.
Institutional and Macro Tailwinds
A recent Bloomberg report citing Deutsche Bank economists Marion Laboure and Camilla Siazon stated that central banks may begin viewing Bitcoin as a modern counterpart to gold.
The report cited declining global confidence in the US dollar and an accelerated move toward de-dollarisation as the reasons for the bullish prediction.
According to Laboure, the dollar’s share of global reserves has fallen from 60% in 2000 to just 41% in 2025, with Bitcoin and ETFs emerging as primary beneficiaries of this shift.
Related: Ash Crypto’s Thesis Shows Gold Peak May Fuel BTC Super Run
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Source: https://coinedition.com/bitcoin-correction-ends-as-etf-inflows-lift-outlook/