As Bitcoin ($BTC) spot trading volume recently dropped to the lowest level in 2026 amid the ongoing cryptocurrency bear market, Michaël van de Poppe, founder of MN Fund, argued that the market is offering an opportunity to accumulate.
Poppe said the current “ghost town” conditions in crypto and Bitcoin should not be viewed as a negative outlook. Instead, he described them as a clear signal that the market is providing a strong chance to buy.
“The fact that crypto and Bitcoin are a complete ghost town isn’t bad. It’s a sign of the markets providing a tremendous opportunity to accumulate,” the crypto analyst noted.
He highlighted that the sharp rise in Bitcoin price from its previous cycle lows, happened after $BTC supply in loss peaked. For instance, $BTC price rallied over 600% after it bottomed near $16,000 during the 2022 crypto bear market, which coincided with the supply in loss at an all-time high ($ATH), according to data from Alpha Metrics.
With the Bitcoin supply in loss having recently reached a fresh $ATH as $BTC price hovered at around $60,000, Poppe concluded that the next compounded annual growth rate (CAGR) could be enormous.
“An enormous growth rate to simply be accumulating Bitcoin at these valuations and to be continuing to be holding it,” he concluded.
Bitcoin price outlook
Bitcoin price has plunged over 26% year-to-date (YTD), trading at $64,600 at the time of reporting. During the past 24 hours, the flagship coin dropped roughly 0.2% and had a traded volume of approximately $20.22 billion.
Although $BTC price has been trapped in a macro bear market, technical analysis recently revealed a potential reversal pattern, as Finbold explained.
With the crypto regulatory environment in major jurisdictions – including Europe and Russia – already improved, Bitcoin could attract more capital. Combined with the $BTC supply in loss at $ATH, the asset could be on the verge of a fresh bull market as Poppe signaled.