Will Bitcoin break all-time highs soon? Analyst says ‘dips are just opportunities to buy'
Onchain Bitcoin
analyst Willy Woo has shared an upbeat note for Bitcoin's future, highlighting a surge in capital inflows and investor confidence that could propel the world's top cryptocurrency past its all-time highs, as per a report.
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Bitcoin Market Sentiment Shifts as Capital Flows Ramp Up
In a string of posts on social media platform X (formerly Twitter) on April 27, Woo presented his bullish argument for Bitcoin, highlighting a significant shift in market sentiment, according to Bitcoin.com News. Woo posted on X, "BTC fundamentals have turned bullish, not a bad setup to break all time highs," quoted Bitcoin.com News.
As per Woo's analysis, the shift is being spurred on by higher capital inflows into the Bitcoin network—an indication that not only traders, but long-term investors are getting back into the fray, as per the report. According to Woo, 'Capital flows into the network are ramping up. Both total and speculative flows have bottomed, when both align they join forces to make a bullish environment anchored in fundamentals,' quoted Bitcoin.com News.
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Price Targets Update: $103K and $108K Still in Play
Woo also posted new price targets, and he revealed that medium-term targets of $90,000 and $93,000 have already been surpassed, according to the report. He said, "The 108K target is still in play with a new interim target of 103K forming," quoted Bitcoin.com News.
These levels, Woo says, show Bitcoin moving on a firm technical trajectory driven by liquidity and market conviction, as per the report.
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Short-Term Pullbacks Aren't a Cause for Concern
Though he is upbeat, Woo did admit the likelihood of short-term pullbacks, but he sees them as buying opportunities, not red flags, as per Bitcoin.com News. Woo wrote, 'It's a solid long term setup. All dips are for buying under the present regime. In the very short term, there's good chances of dips,' as quoted in the report.
According to Bitcoin.com News, Woo's analysis suggests that if capital inflows maintain their momentum, bitcoin could soon be poised to challenge and surpass its previous peak prices.
FAQs
What is Willy Woo's Bitcoin outlook?
Willy Woo is bullish on Bitcoin and said that Bitcoin could soon break its all-time highs, as per Bitcoin.com News.
Why is Woo optimistic about Bitcoin?
Woo is optimistic due to the strengthening of both speculative and long-term investment in Bitcoin, as per Bitcoin.com News.
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