Why Bitcoin’s Price Surge Might Not Last: Bears Still in Control
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According to Willy Woo, the BTC price might stay unimpressive for a few more weeks as there is a need to remove excess speculators from the market. He mentioned that the recent reversal in BTC was purely technical and not based on fundamental factors.
Earlier this week, Bitcoin (BTC) faced significant selling pressure, followed by a bounceback attempt. However, it struggled to hold above $63,000 and has since slipped back below $61,000, trading 1.5% lower at press time. Crypto analyst Willy Woo believes this recent price increase is temporary.
Crypto analyst Willy Woo recently commented on the state of the Bitcoin (BTC) market, noting that while the recent price correction helped clear excess leverage, there remains speculative activity in the market.
