Renowned on-chain analyst Willy Woo predicts Bitcoin price could bottom in the $46,000-$54,000 range, based on classic on-chain models. The lower Bitcoin bottom prediction coming during heightened volatility and uncertainty sparked jitters in the crypto market. Bitcoin Price Bottom Prediction by Willy Woo BTC bulls are holding strongly between $65,000 and $70,000, resisting a drop
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]]>Popular BTC analyst Willy Woo has issued a stark warning of an upcoming major Bitcoin price crash, following a rebound to mid-$70K levels. He predicts timeline for the bearish trend will subside and bear market bottom in 2027. Willy Woo Issues Dire Warning on Upcoming Bitcoin Price Crash Willy Woo, analyst with a solid quant
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]]>Bitcoin, Ethereum, Dogecoin Drop As Stock Futures Slide: Willy Woo Says ‘All Dips Are For Buying’ With BTC Eyeing ‘All-Time Highs Benzinga
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Recently, the cryptocurrency market experienced a significant correction, witnessing a sudden decline in the global crypto market cap. This downturn coincided with data from the Bitcoin Liquidation Heatmap, as relayed by popular analyst Willy Woo. The analysis signals the potential for a substantial $1.5 billion Bitcoin short liquidation once BTC reaches the critical threshold of $72,000. As of today, the price of Bitcoin (BTC) stands at $70,959.96, with the cryptocurrency’s 24-hour trading volume recorded at $36.5 billion. Over the past 24 hours, Bitcoin has surged by 2.85%, reflecting a notable recovery despite recent market volatility.
Analysis of Bitcoin’s Price Trends and Impending Liquidation
Despite the looming $1.5 billion Bitcoin short liquidation threat at $72,000, BTC has shown resilience. Earlier, it was confined within a large descending channel pattern characterized by lower highs and lows. However, a breakout has occurred, which some interpret as a signal of a potential bull market. The $60,000 support zone has proven resilient on multiple occasions, with market sentiment targeting the channel’s higher boundary.
Bitcoin price rallied upwards strongly yesterday, breaching the symmetrical triangle’s resistance line, achieving the first target at $70,645.00, and eyeing further gains towards $73,800.00. The bullish trend is expected to continue, supported by the EMA50 carrying the price from below. Notably, breaking $68,890.00 would halt the expected rise and subject the price to negative pressure on an intraday basis. The Relative Strength Index (RSI) surpassing the 50% mark indicates a return to bullish momentum. Willy Woo has further predicted that amid breaking the $72,000 level could lead to a rally towards $75,000 and potentially new all-time highs.
Also Read: Hacked Japanese Crypto Exchange DMM Bitcoin Plans Massive BTC Purchase
Live Market Dynamics and Long-Term Outlook
As of today, the live price of Bitcoin (BTC) is $71,028.56, with a 24-hour trading volume of $32.4 billion. The cryptocurrency has surged 3% in the past 24 hours and is currently trading between $71,224.18 and $70,476.79. Bitcoin’s live market cap stands at $1.3 trillion. Open interest in Bitcoin has surged by 5.96%, reaching a valuation of $20.4 billion. Historical price data suggests that Bitcoin is heading towards forming a new all-time high in the first few weeks of 2025.
The price has followed a parabolic curve during the past bull run and now appears to be at the midpoint of the rally. Despite the RSI indicating a well-planned rally, recent rejections above $71,000 have diminished bullish strength. Traders now expect BTC to maintain its current sluggish trend for a while. However, from a long-term perspective, market dynamics are anticipated to shift, potentially having a major impact on Bitcoin’s price trajectory.
Also Read: ETH Supply to Drop By 1.26 Million In Five Months of Spot Ethereum ETF Launch
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Bitcoin price has stabilized its technical aspect above $30,000, giving bulls ample time to plan the next targeted attack on the resistance between $31,000 and $32,000. With BTC making numerous attempts to break this resistance, such a move will likely open the door to gains eyeing $35,000 and $38,000.
Is Bitcoin Price Close To A Breakout?
The largest cryptocurrency is trading at $30,760 toward the end of the Asian session on Monday. Since the recovery started in the wake of June’s drop beneath $25,000, Bitcoin price has generally sustained its position above $30,000.
However, it has become increasingly difficult to push steady price movements above $31,000, let alone the upper resistance range around $32,000.
Despite the snarl-up across the board, analysts believe Bitcoin price is in a position that may allow it to rally, closing the distance to $38,000 as opposed to sliding to $25,000.
A buy signal from the Moving Average Convergence Divergence (MACD) indicator reinforces the bullish grip on BTC.
Moreover, Bitcoin’s position above all the applied moving averages, including the 50-day EMA, the 100-day EMA, and the 200-day EMA, shows that a bullish breakout is the most likely outcome.
As investors prepare for the anticipated move to $35,000 and $38,000, they must keenly watch BTC’s reaction to the immediate resistance at $31,000. It would be prudent to hold onto the buy orders and only consider activating with the price flipping above the short-term hurdle.
Some conservative traders may want to wait until Bitcoin price steps above the subsequent hurdle at $32,000, which would be followed by a spike in trading volume and increased investor interest.
On the other hand, the Money Flow Index (MFI), which recently pulled back from the oversold region, reveals that Bitcoin price may first drop to $30,000, and if push comes to shove, $28,000, where it would sweep through fresh liquidity to support an extended breakout to $38,000.
What Will it Take for Bitcoin Price To Rise To $310k?
Popular on-chain analyst Willy Woo has affirmed his bullish stance on Bitcoin, but this time with a massive forecast of $310,000 per BTC. However, Woo told his millions of followers on Twitter that there’s a caveat.
In his opinion, eight institutions must be comfortable with dedicating up to 5% of their assets under management (AUM) to the largest crypto.
Some of these firms include Blackrock with $9,090 billion AUM, Fidelity with $4,240 billion AUM, JP Morgan with $3,300 AUM, Morgan Stanley with $3,131 billion AUM, and Goldman Sachs with $2,672 AUM among others.
According to Woo, if all these eight firms channel 5% of their AUM into Bitcoin, the price of the coin could jump to range between $128,000 and $398,000. However, he warned that “it would really depend on whether they deploy in a bearish or bullish phase of the market.”
It would really depend on whether they deploy in a bearish or bullish phase of the market but the range would be between $128k – $398k. Right now it’s $310k.
Methodology is via measuring market cap increase vs realised cap increase. pic.twitter.com/pPO0U6xAE8
— Willy Woo (@woonomic) June 28, 2023
Woo’s remarks come in the wake of filings by investment giants BlackRock and Fidelity for a Bitcoin-spot exchange-traded fund (ETF). These applications, however, have been allegedly deemed insufficient by the U.S. Securities and Exchange Commission (SEC).
Market participants believe Blackrock has at least a 50% chance of getting the approval, which is expected to increase investor confidence in a market characterized by extreme volatility.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Bitcoin price rallied massively to hit a 9-month high of $27,787 as it strongly breaks above the key 200-WMA at $25.3K. Bitcoin and Ethereum prices soared after the U.S. Federal Reserve started money printing with an initial $300 billion in funding for rescuing cash-strapped banks since the collapse of Silicon Valley Bank and Signature Bank.
Crypto leaders and influencers including Binance CEO “CZ”, Bitcoin analyst Willy Woo, stock-to-flow model creator PlanB, former Coinbase CTO Balaji Srinivasan, and others are confident about Bitcoin price hitting $30,000.
Binance CEO “CZ” took to Twitter to share the good news that Bitcoin rallied past $27K, mocking U.S. banks and appreciating crypto holders who held amid FUD due to recent events. He is bullish on Bitcoin as banks crumble.
“Bitcoin is volatile, but it never needed a bailout. Holding crypto is tough. It wasn’t easy for the people who held on in the past few months.”
Popular Bitcoin analyst Willy Woo also took to Twitter to share his favorite on-chain indicators for Bitcoin. He recommends buying when the BTC price is between the realized price and the Cumulative Value Days Destroyed (CVDD) floor. Investors should also buy more when the price move past the purple line.
Bitcoin stock-to-flow model creator PlanB revealed that rebounding towards dark blue area of the stock-to-flow valuation model. He believes that Tripple top for a new ATH in the current cycle is possible as the Bitcoin halving is coming.
Bitcoin Price To Hold Above 200-WMA
Meanwhile, former Coinbase CTO Balaji Srinivasan predicts bank failures and money printing will cause Bitcoin price to hit $1 million within 90 days. On Friday, he made a bet with James Medlock, a self-proclaimed social democrat, over U.S. entering hyperinflation. Balaji Srinivasan is ready to transfer $1 million in USDC for the bet to either a smart contract or an escrow person.
Bitcoin price currently holds above the 200-WMA, as reported earlier by Coingape. BTC price currently trades at $27,587. The 24-hour low and high are $26,209 and $27,787. Bitcoin will face resistance in the $28.5K-29K range, it will cross the mark if the U.S. Fed FOMC rate hike decision comes in dovish.
Also Read: Solana Mobile Hints At Saga Smartphone Launch Date
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Bitcoin (BTC) bulls appear to be back as the crypto market takes off despite the Fed rate hike and recession fears. Crypto evangelists Binance CEO “CZ”, MicroStrategy’s Michael Saylor, and Galaxy Investment’s Mike Novogratz were bullish on the crypto market before the FOMC meeting and thinks the recession will indeed drive Bitcoin adoption.
Bitcoin Accumulation Rising Amid High Inflation and Recession FUD
Bitcoin (BTC) price skyrocketed by 29% in July, making a high of $24,294 after 2 months on July 29. The U.S. Fed rate hike and negative GDP report fail to pull down the market rally due to rising positive sentiments. The Crypto Fear & Greed Index has jumped to 42 from 11 last month, making Bitcoin attractive above the $20k mark.
Binance CEO “CZ” in an interview with CNBC eases fear surrounding rising inflation and recession. He believes Bitcoin (BTC) is bearish above the $20k level as the last peak around $20k in 2017 acts as a strong psychological barrier.
He said the Bitcoin fundamentals are strong, money supply and Nasdaq 100 correlation are all secondary factors. The regulatory landscape improvement, higher inflation, and recession talks will help drive Bitcoin adoption.
He asserts logically the crypto market should move opposite to the stock market, but crypto is tied to macro factors these days due to its smaller market size. Both the crypto and equities markets are rising despite the Fed rate hike and recession fears.
“The cryptocurrency market is so small that whenever the big ship tank or when stock markets crash, people want to hold cash. Today, most people who are trading cryptocurrencies also trade stocks. So right now it’s positively correlated, which is illogical, but it’s just the way it is right now.”
Bitcoin analyst Willy Woo in a tweet on July 30 claims the Bitcoin accumulation is rising. He shared his personal Bitcoin capitulation and bear market bottom chart depicting historical Bitcoin movements. Bitcoin bulls can drive a rally.
Bitcoin evangelist and MicroStrategy’s CEO Michael Saylor believes Bitcoin will drive wave crypto regulation and rationalization as adoption continues to rise. In a recent tweet, he said:
“This month the need for bitcoin climbed to another all-time high.”
Bitcoin Bullish Above $20K Psychological Level and 200-WMA at $22.8K
The Bitcoin (BTC) price has rallied significantly higher this week on the back of the crypto market and stock market rebound. In the last 24 hours, BTC made a high of $24,294, currently trading at $23,825, down just 1%.
The Bitcoin (BTC) price will remain bullish above the $20k level for a longer time. Meanwhile, tracking the price trends above the 200-WMA is important.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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