Willy Woo: BTC This Bear Market Cycle Saw an Early Stage Overshoot, Now Setting Up for a Rebound to $85K

BlockBeats News, March 8th. Renowned analyst Willy Woo posted on the X platform, stating that despite Bitcoin facing local resistance around $75,000, investor capital inflows have been steadily recovering since mid-February. At the same time, the stock market's expected volatility index VIX is suggesting that market sentiment may shift to "risk-on" in the coming weeks.

Willy Woo pointed out that Bitcoin's speed of decline in the early stages of this bear market phase was "too fast." The current market environment is setting the stage for a price rebound to test around $85,000 (the short-term investor's cost basis), but this does not mean that the market has bottomed out. From a long-term liquidity perspective, Bitcoin is still in the mid-phase of a bear market. Historically, after a similar rapid decline, prices typically go through a period of consolidation and test key resistance levels multiple times during the rebound process.