Willy Woo Gives Bitcoin 90% Odds That Market Bottom Is In
Bitcoin fell below $75,000 after the Senate failed to advance the CLARITY Act, then recovered above $80,000.
Bitcoin (BTC) may have entered the early stages of a new bull market, with analyst Willy Woo assigning a 90% probability that its market bottom is already in.
BTC fell below $75,000 after the U.S. Senate failed to advance the CLARITY Act, then recovered above $80,000. It was trading at $84,752, up 1.86% over 24 hours, as of Sept. 24.
Woo’s view is based on improving liquidity conditions and renewed participation from long-term investors. He is giving less weight to historical cycle patterns, which he considers less reliable for identifying market bottoms than Bitcoin’s current liquidity structure.
The CLARITY Act failed a Senate procedural vote on Sept. 15, receiving 49 votes in favor and 50 against. The bill needed 60 votes to advance.
Woo said the market structure remains bullish as long as investor flows continue to hold up, but he has not set a timeline for how long a potential advance could last.
