Willy Woo has predicted a significant price correction<\/a> following the recent bounce.<\/p>\nHe estimates that the bear market bottom could be around $45,000, with more extreme scenarios potentially testing $30,000 or even lower.<\/p>\n
Woo\u2019s caution stems from declining liquidity across spot and derivatives markets, which historically reduces the strength of rallies.<\/p>\n
He suggests that Bitcoin may briefly climb to the mid-$70,000 range before facing renewed downward pressure.<\/p>\n
On-chain signals hint at market fatigue<\/h2>\n
On-chain metrics suggest that Bitcoin may be entering the later stages of a bear market cycle rather than the early phase.<\/p>\n
Roughly half of all circulating BTC, nearly 9.2 million coins, are currently held at a loss, according to the latest weekly report by on-chain analytics firm Glassnode.<\/p>\n
Historically, such levels indicate significant selling pressure and potential capitulation, yet the pace of accumulation by long-term holders hints at a market beginning to stabilise.<\/p>\n
Some analysts view these patterns as signs that bitcoin\u2019s price may be closer to a bottom than the start of a prolonged decline.<\/p>\n
The balance between holders in profit and those in loss is an important measure of market sentiment, and it shows that while short-term volatility remains high, there is underlying support at current levels.<\/p>\n
Bitcoin ETF inflows show cautious optimism<\/h2>\n
Institutional investors have recently stepped back into the market, with Bitcoin ETFs recording over $1 billion in net inflows over a few days.<\/p>\n
This trend follows a period of withdrawals totalling nearly $3 billion, signalling that some investors see the current price as a buying opportunity.<\/p>\n
Spot ETFs, in particular, are attracting attention from long-term investors looking for regulated exposure to Bitcoin.<\/p>\n
The renewed interest demonstrates that, despite the pullback from all-time highs, there is confidence in the asset\u2019s long-term prospects.<\/p>\n
However, inflows are not a guarantee of sustained upward momentum.<\/p>\n
Short-term technical indicators suggest that Bitcoin is trading near the top of a tight consolidation range between $67,000 and $68,000, and a breakout above this zone could spark a rally, although rejection may force the price back toward $63,000 or lower.<\/p>\n
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