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#bIgEr4You News About $BTC #whales_game
Analyst Willy Woo Says Bitcoin As Trillion-Dollar Asset Here To Stay, Sees Liquidation of BTC Bears Next?
A widely followed on-chain analyst thinks that Bitcoin (BTC) bears are about to get wiped out following last week’s crypto correction.
Analyst Willy Woo tells his 1.1 million followers on the social media platform X that the most recent Bitcoin retracement to $60,000 flushed out leveraged longs.
Woo says he doesn’t see Bitcoin going down in a straight line as he believes that BTC bulls will defend the “formidable” short-term holder (STH) at $59,000. According to the analyst, the odds are higher that BTC will bounce and liquidate traders who shorted at around $70,000.
“We flushed out long leverage down to $60,000.
To liquidate lower, price would have broken the formidable $59,000 STH support, and a strong sign of a bear market.
More likely short liquidations to $71,000-$75,000 is next.