So, here we are, folks. Veteran on-chain analyst Willy Woo, who sounds like he should either be analyzing cryptocurrency or living in a bunker with a tinfoil hat, is warning us of a market correction for Bitcoin (BTC). Can you hear the ominous music in the background? 🎶
Woo, who has somehow amassed 1.2 million followers on social media, has decided to enlighten us mere mortals by declaring: Bitcoin needs to hit new all-time highs, or else watch out! Apparently, BTC is on the precipice of flipping bearish like it’s some mood ring from the ’90s. If we don’t start breaking records soon, it seems we might be in for another cringe-worthy wave of sell-offs. 🤦♂️
“If we don’t get further highs soon, BTC will be setting up for bearish divergences on longer-range charts at a time when capital inflows have been weaker than normal… ” Oh, Willy. You really know how to bring the good news, don’t you? Remember when we didn’t care about graphs? Yeah, those were the days.
But wait! Just when you think it’s time to don our doomsday prepper outfits, Willy reassures us that the Bitcoin Risk Signal is flashing bullish—much like emergency lights at a chaotic family reunion. Something about new all-time highs possibly happening this week. Can you smell the hope? 🌈
“Still, the broader picture is bullish with the risk signal dropping,” Woo tells us as if he’s some sort of fortune-teller. If buying kicks up this week, we could see a merciless slaughter of shorts at $114,000. Cheers to whipped-up expectations! 🥂
In a twist that would make any soap opera proud, Willy grips our shoulders and whispers about Bitcoin’s spent output profit ratio (SOPR)—a fancy term for whether coins are being sold at laughably high profits or meager losses. And guess what? Apparently, investors are swimming in profit. 🏊♂️ This translates to potential panic selling at the first sign of trouble. Reminds you of those intense family gatherings where Uncle Larry tries to jump into the pool, but only after he’s had one too many margaritas.
“Speculation is going nuts on BTC at a time when there’s plenty of investor profits to take…” If we only listened to Skeptical Sally back in the day: “Be fearful when others are greedy”—truer words have never been spoken.
Finally, in a stunning twist worthy of a Netflix drama, Woo mentions that buying Bitcoin has slowed for the first time since its breakout journey. Who knew a slow buying spree would send chills down our spines? It’s like watching paint dry when you’re waiting for someone to reply to your text—and you start wondering if it was something you said. 😬
“Capital flows into the network was very flat the last three days…” Ah, the calm before the storm. They say anticipation builds character, right? Right? ☠️
So here we are. Bitcoin, that fickle creature, is hovering at $107,948 as we speak, a mere whisper away from the dreaded 1.1% drop in the last 24. Buckle up, everyone; this rollercoaster is far from over!
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2025-05-29 17:41