Willy Woo: Bitcoin Bear Market About to Enter Second Phase, Liquidity Turning the Corner Still Awaits

BlockBeats News, February 18th. Renowned analyst Willy Woo stated that he has bad news for those who are perpetually bullish. Bitcoin's bear market trend is still ongoing and should be divided into three stages:

Stage One — Initiation: Bitcoin's liquidity has already collapsed, which occurred in the third quarter of 2025, and the price began to decline. Bitcoin, as a small-scale asset, is extremely sensitive to liquidity. For this reason, it often leads the global macroeconomy into a bear market and usually does so several months in advance. In other words, when smart money exits, Bitcoin quickly responds. During this stage, die-hard bulls will blindly claim that this is just a pullback within a bull market, but they cannot provide any solid evidence of fund inflows, only fabricating stories.

Stage Two — Global stock markets turn bearish: This is a behemoth with a scale of up to $100 trillion, much like a massive supertanker — moving slowly. This is the mid-term stage of the Bitcoin bear market, where all risk assets are falling. Undoubtedly, we are in a bear market.

Stage Three — Dawn: At this stage, liquidity begins to improve, capital outflows peak and stabilize. Investors are returning. The final price crash usually occurs at this stage, possibly shortly before or after the peak of capital outflows.

In the current bear market scenario, Bitcoin is currently in Stage One and is about to enter Stage Two.