Crypto analyst Michaël van de Poppe asserts that Bitcoin's consolidation around $110,000 does not signify a market peak. He points out that many altcoins are still near historical lows, and no major bullish indicators have been triggered. Van de Poppe likens the current market conditions to the 2019–2020 period, suggesting an ongoing accumulation phase. Additionally, he notes Bitcoin's dominance remains high at 60%, with altcoins significantly undervalued.