Michaël van de Poppe reduced his NEAR position due to Bitcoin uncertainty but remains bullish long term. Here's why he still sees NEAR as one of the strongest altcoins to buy.
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Crypto analyst Michaël van de Poppe is becoming more cautious on NEAR in the short term, even though he remains bullish on the project overall.
In a recent update, Van de Poppe revealed that he has reduced the size of his NEAR day trade. The reason isn’t a change in his outlook on NEAR itself. Instead, he believes Bitcoin is showing signs of weakness, and that could create another round of selling pressure across the altcoin market.
According to Van de Poppe, Bitcoin is currently at an important level and still looks unstable. If Bitcoin drops back to recent lows, it could trigger a broader correction across altcoins.
That possibility is why he decided to take some exposure off the table.
His view is that if Bitcoin revisits those levels, many strong altcoins will also get dragged lower regardless of their fundamentals. Rather than sitting through that volatility, he would rather keep some capital ready and buy later at better prices.
“If Bitcoin tests those lows, it will automatically trigger a cascade of downward pressure on the altcoin markets,” Van de Poppe explained.
Despite trimming his position, Van de Poppe made it clear that NEAR remains one of the assets he is most interested in.
Just a day earlier, he highlighted NEAR, ONDO, and HYPE as some of the strongest setups in the market. At the time, he expected a short correction followed by a higher low and another push toward recent highs.
His broader thesis hasn’t changed.
He still believes most of the market fear may already be behind us and that several altcoins are setting up for continuation moves. However, he wants confirmation from Bitcoin before increasing his exposure again.
Van de Poppe sees two possible outcomes from here.
The first scenario is a Bitcoin retest of recent lows. If that happens, he expects altcoins to experience another round of downside pressure. In that case, he plans to aggressively buy the dip, especially in assets like NEAR that he believes have strong long-term potential.
The second scenario is that Bitcoin successfully holds current levels and begins moving higher. If that happens, he believes NEAR could quickly emerge as one of the strongest performers in the market due to its recent resilience and strong technical setup.
“NEAR will be one of the strongest assets” if current support holds, he said.
Crypto analyst Altcoin Sherpa is also closely monitoring NEAR.
According to Sherpa, the token has reacted well to support and now needs to break above the $2.25 level to confirm further upside. If that happens, he sees a move toward the $2.50 to $2.75 range.
However, Sherpa also warned that Bitcoin remains the key variable. If BTC continues to weaken, he believes NEAR could fall back toward the $1.80 region before finding support.
For now, both analysts agree on one thing: NEAR still looks strong, but Bitcoin will likely decide whether the next move is a breakout higher or one more dip before the rally begins.
For now, both analysts agree on one thing: NEAR still looks strong, but Bitcoin will likely decide whether the next move is a breakout higher or one more dip before the rally begins.
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