Bitcoin Correction Begins, Analyst Says Its Time to Accumulate for Next Crypto Run

Bitcoin has begun a healthy correction after its parabolic move to an all-time high above $123,000 in July. According to analyst Michaël van de Poppe, this phase offers a critical opportunity for accumulation ahead of the next major leg up.

“Its time to accumulate your next positions for the next run,” Van de Poppe tweeted.

At press time, Bitcoin is trading around $114,670, testing a key liquidity area identified between $115,000 and $116,000. Technical analysis suggests that the $110K–$112K range may act as a strong support zone and accumulation region if the price dips further..

Bitcoin Liquidity Grab Could Trigger Breakout

The recent price action has taken out short-term liquidity pockets, suggesting that the market may now be primed for a breakout once consolidation ends. As one on-chart note states: “Liquidity taken, ready for breakout？”

Notably, earlier attempts to push above $119,504 were rejected in the last weeks of July, making that a crucial resistance level for any upcoming bullish continuation. A successful reclaim of that level could set up a fresh all-time high (ATH) test.

August: Month of Stabilization Before Another Leg Up？

Van de Poppe believes the correction may define the early part of August, but the month could still finish strong. “Perhaps August is a month of stabilization,” he said, “and well go back up later in the month for altcoins and Bitcoin.”

If this stabilization phase plays out similarly to past cycles, the current pullback could be the final shakeout before a full-blown rally resumes.

Institutional and Retail Positioning Support Altseason Outlook

Before this latest dip, Ethereum and other altcoins had been gaining traction. As reported earlier, Ethereum surged 170% from recent lows to trade near $3,850, putting it just 23% shy of its ATH.

Institutional buyers like SharpLink and The Ether Machine have scooped up over $2.5 billion worth of ETH in recent weeks. At the same time, retail activity has also picked up, with Bitcoin transactions under $10,000 increasing by 9.7% in July.

Amid this, the Altcoin Index from CoinMarketCap rose to 41% before a recent dip to 35%, indicating that some of the top 100 coins are already outperforming Bitcoin.

Moreover, the futures market also supports the rotation narrative. Altcoin and Ethereum futures volume recently hit $223.6 billion, making up 83% of total futures trades. Bitcoin, in contrast, accounted for just 17%, a dramatic reversal from earlier this year. On Binance, 401 of 424 altcoin futures pairs have posted positive returns since Bitcoins recent ATH.

Essentially, with Bitcoin correcting into a key demand zone and altcoins continuing to show strength, current conditions may offer prime entry points for long-term positions, provided market structure holds.