Willy Woo: The fundamentals of Bitcoin have turned bullish, and the market may consolidate or rise slowly
ChainCatcher news, crypto analyst Willy Woo stated that the fundamentals of Bitcoin have turned bullish, with increasing capital inflow into the network, creating favorable conditions for it to break historical highs. He pointed out that both overall market and speculative capital flows have bottomed out, and when these two combine, it creates a favorable market environment. Currently, market liquidity is recovering, and downside risks are minimal.Woo mentioned that the mid-term target prices of Bitcoin at $90,000 and $93,000 have been reached, while the $108,000 target remains, with a new mid-term target of $103,000. Due to on-chain indicators showing that prices are high, it may be difficult for a rapid increase in the short term, and the market may consolidate or rise slowly. Additionally, new channels for capital inflow provide convenience for traditional investors, as these channels are recognized by banks and brokerage firms as collateral, avoiding the regulatory issues faced by Bitcoin.