Bitcoin 'Ghost Town' Conditions Seen as Buying Opportunity

Bitcoin's spot trading volume has hit a new low in 2026 amidst the ongoing crypto bear market, but Michaël van de Poppe, founder of MN Fund, sees this as an opportunity to accumulate. According to van de Poppe, the current 'ghost town' conditions in crypto and Bitcoin are not a negative sign, but rather a clear indication that the market is providing a strong chance to buy.

The sharp rise in Bitcoin's 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.

Van de Poppe highlighted that the current BTC supply in loss has reached a fresh ATH as $BTC price hovered at around $60,000. He concluded that the next compounded annual growth rate (CAGR) could be enormous, with Bitcoin accumulating at these valuations and continuing to hold it.