Prominent analyst Willy Woo suggests Bitcoin could reach $108,000 if capital inflows persist. He emphasises viewing price dips as buying opportunities. Woo notes strong fundamentals and increasing liquidity, although short-term challenges may exist due to price overextension. Overall, Bitcoin’s recent performance supports a stable recovery trajectory amid growing market confidence.
Bitcoin is drawing attention as Willy Woo, a well-known analyst, claims the cryptocurrency could soar to its all-time high of $108,000 if current capital inflows continue. Instead of viewing recent dips as trends of a market crash, he suggests that investors should see them as normal corrections and good buying chances.
In a revealing thread on X (previously Twitter), Woo points to strong fundamental factors supporting Bitcoin’s bullish trend. Notably, there’s a significant increase in capital inflow to the Bitcoin network, following previous lows in both total and speculative capital flows. Woo remarked that the current setup feels quite positive for Bitcoin, emphasising that “BTC fundamentals have turned bullish.”
He went on to discuss the increasing liquidity of Bitcoin, highlighted by a downward-moving Risk Model that points to the return of market liquidity. This result suggests that any upcoming price drops will likely be more moderate, thereby decreasing the risk of significant sell-offs. “All dips are for buying under the present regime,” he asserted, while acknowledging short-term possibilities of dips as well.
Woo also mentioned that Bitcoin has recently surpassed medium-term price targets of $90,000 and $93,000. A new interim goal at $103,000 suggests an upward path toward the ultimate target of $108,000, backed primarily by steady capital inflows rather than speculative trades, which strengthens his bullish case.
However, Woo did voice caution regarding short-term movements. He indicated that Bitcoin’s on-chain Volume Weighted Average Price (VWAP) is currently at +3 standard deviations, signalling that the asset’s price is significantly above its usual range. “It’ll be hard to move upwards with decent momentum due to overextension,” he explained, hinting that the likely scenario might be a sideways trend or a gradual price increase rather than a breakout.
Recent insights from BeInCrypto pointed out three key indicators that bolster the narrative for Bitcoin’s recovery. In April, Bitcoin resumed its inverse connection with the declining US Dollar Index (DXY), while also losing its correlation with the NASDAQ. At the same time, long-term investors are actively accumulating Bitcoin. These signals together suggest increased market confidence and hint at the potential for a significant Bitcoin rally.
In fact, Bitcoin has shown resilience, recently recovering 7.7% in value over the past week. As of now, Bitcoin’s price sits at $94,125, with a slight decrease of 0.07% over the last 24 hours.
