Bitcoin's Financial Movement Trending Positive as Experts Predict Price Surpassing $100,000 Mark
Bitcoin's tech-savvy pundits are projecting a possible soaring to new record highs, stirring up an optimistic vibe in the crypto community. Willy Woo, a renowned technical analyst, stated on April 27th, "Bitcoin fundamentals are looking bullish, and it's not a bad setup to break all-time highs."
Woo went on to say that capital influx into the network is heating up, as illustrated by a chart indicating an increase in 30-day total flows and a decrease in 30-day speculative flows. This shift indicates a firming up of the network, setting the stage for a bullish environment grounded in strong fundamentals.
The analyst also noted that their risk signal model is trending downwards, meaning liquidity is flooding back into the market. He noted that downward pulls will be minimized in this environment.
With medium-term goals of $90,000 and $93,000 already achieved, Woo suggested a new interim target of $103,000. However, in the short term, he forecasts a period of sideways action or a slow upward climb.
Woo emphasized that dips are welcome under the current regime, which might see a few more in the very short term. He summed it up by saying, "BTC is gearing up for another all-time high break if the capital flow trend persists. It's a promising long-term setup."
Fellow analyst Rekt Capital suggested that Bitcoin would need to have a weekly close above $93,500 to start the process of reclaiming its previous range. At the time of writing, BTC had briefly dipped below $93,000 but swiftly recovered to regain $94,000.
Julio Moreno, head of research at CryptoQuant, reported that the "Bull Score Index" currently stands at 60, fueled by growing Bitcoin demand and surging stablecoin liquidity.
The positive weekly close has lifted BTC above the short-term holder price for the first time since March 3rd, signaling that recent buyers are now in profit. This development lessens the chances of capitulation and strengthens on-chain support for further upward momentum.
Currently, BTC is trading at around $94,000 and holding steady at this level for the past five days.
- Willy Woo's assertion on April 27th suggests Bitcoin fundamentals are exhibiting a bullish trend, potentially leading to record highs.
- Woo's analysis illustrates an increase in 30-day total flows and a decrease in 30-day speculative flows, indicating a strengthening network for a bullish environment.
- The analyst's risk signal model shows liquidity returning to the market, mitigating downward pulls.
- Woo proposes a new interim target of $103,000, although anticipates a short-term period of sideways action or slow upward climb.
- Dips are deemed welcome under the current regime by Woo, who expects possible additional short-term fluctuations.
- Rekt Capital posits that Bitcoin needs a weekly close above $93,500 to facilitate reclaiming its previous range.
- Julio Moreno highlights that the Bull Score Index, driven by rising Bitcoin demand and increasing stablecoin liquidity, is currently at 60, which hints at strong on-chain support for further upward momentum on platforms like Bybit.
