According to famous analyst Willy Woo, Bitcoin (BTC) has entered a new phase of accumulation which is characterized by influx of smart investors in the crypto market. This phase is accompanied by a sideways/slightly bullish trend and indicates that the bottom of the ongoing bear market has already been reached. As evidence of this analysis Willy points to the Bitcoin Macro Index which has broken out above the lower blue line - a sign that the re-accumulation phase has started.

In support of this assessment Willy Woo provided a chart showing the ratio of cost basis for short-term and long-term BTC holders. He noted that at the bottom of a bear market, short-term holders (represented by the red line) buy Bitcoin at a lower price point than long-term holders (blue line). This period is the ideal buying window for new investors to join the market. A similar trend was observed at the trough of the last bear market in 2022, however Willy notes that the buying window for short-term investors is now over.

Analyzing liquidity in the Bitcoin market, Willy Woo observes a sudden dampening of price volatility as well as a “liquidity gap” in the $30,000-$40,000 range. This is a sign that increased volatility could lead to a sharp increase in the price of Bitcoin near $40,000. This is further reinforced by the fact that the beginning of the current bull run was triggered by the recovery of the $30,000 price level.

Overall, Willy Woo’s analysis is indicative of Bitcoin entering a new market state marked by increased stability and the return of savvy investors. The current accumulation phase is strong evidence of the bottom of the bear market being reached, and a move towards the $40,000 area being likely.



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