This is one of the worst crashes the crypto market has ever seen. Various technical indicators are showing extremely low levels. Yet, crypto analyst Michaël van de Poppe views it as a buying opportunity: “buy the dip.”
Worst Crypto Crash Ever #
The crypto market is in turmoil. Since reaching a new all-time high of $126,000 on October 6, the Bitcoin price has completely fallen back to its current level of $82,000. An end to the price drop is not yet in sight.
According to the Crypto Greed & Fear Index, an indicator that reflects market sentiment, extreme fear is gripping the crypto market. Crypto analyst Michaël van de Poppe points out that this indicator is at 6, one of the lowest possible levels. Profitability has also dropped to a historic low, he says:
“The short-term profit and loss (PNL) has reached its lowest level ever.”
This makes the current price drop one of the worst crashes the crypto market has ever experienced. Van de Poppe writes:
“This crash is more severe than the COVID-19 or FTX crash in terms of impact on indicators.”
“The #Crypto fear & greed index hit a number of 6. The Short-Term PNL has hit its lowest number ever. This crash is more severe than the COVID-19 or FTX crash in terms of impact on indicators. Buy the dip.” — Michaël van de Poppe (@CryptoMichNL), November 21, 2025
Not a Warning, but a Buying Opportunity #
However, Van de Poppe does not mean this as a warning. During the COVID-19 crash, the Bitcoin price plummeted from $9,000 to $4,000 in a matter of days, but was followed by a spectacular bull market that peaked at $69,000.
The FTX crash in 2022 was also a unique situation, where the price instantly collapsed from $21,000 to $15,700. That was followed by a multi-year rally to $126,000.
In hindsight, these crashes turned out not to be disasters, but ideal buying opportunities. This was partly because the crashes were caused by market conditions, not by fundamental changes.
According to Van de Poppe, the current market is comparable, so there is no reason to panic. Instead, it’s a good time to buy:
“Buy the dip.”
Will the Tide Turn Soon? #
However, you’ll need to be strong to stomach it at the moment. No one knows in advance where the exact bottom will be. Other analysts also predict that the tide will turn soon, but often expect a period of volatility first.
Meanwhile, there are also analysts who predict a bear market and critics who see the crash as proof that it’s all over and that Bitcoin and crypto will never amount to anything.