Prominent analyst Willy Woo sees Bitcoin ($BTC ) heading towards new all-time highs, with the potential to reach $108,000 in the long term. This optimism is based on strong fundamental factors, including increased capital flows into the Bitcoin network and a significant recovery in liquidity.
Supporting factors:
Continuous capital flows instead of relying on speculative trading. Price declines are seen as healthy buying opportunities, not indicators of market collapse. Recovering medium-term price targets like $90,000 and $93,000, with an expectation of reaching $103,000 as a temporary stage.
Short-term warnings:
The current price of Bitcoin is considered "overextended" at +3 standard deviations above the volume-weighted average price (VWAP), which may limit short-term upward momentum. The most likely scenarios are sideways movement or slow gradual growth rather than a rapid rise.
Recent market performance:
Bitcoin has recovered by 7.7% over the past week, stabilizing around $94,125 at the time of writing. Rebuilding the inverse relationship with the US dollar index (DXY) and decoupling from Nasdaq performance, reflecting increasing confidence in the market.
Overall, Wu indicates that the current environment is conducive to sustainable long-term gains, but short-term challenges may impose some constraints on momentum.