Willy Woo: The decline in the early stage of this bear market for BTC was too rapid, and it is currently creating conditions for a rebound to $85,000

On-chain analyst Willy Woo posted on platform X, stating that although Bitcoin has encountered local resistance around $75,000, investor capital flows have continued to warm up since mid-February. Meanwhile, the expected volatility index VIX in the stock market is subtly indicating that market sentiment may shift towards "risk-on" in the coming weeks.

Willy Woo pointed out that the speed of Bitcoin's decline in the early stage of this bear market was "too fast." The current market environment is creating conditions for a price rebound to test around $85,000 (the short-term investor 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-stage of a bear market. Historically, after similar rapid declines, prices typically undergo a period of consolidation and test key resistance levels multiple times during the rebound process.