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Willy Woo: BTC's early decline was too rapid, and it is now creating conditions for a rebound to $85,000.

bitcoin news Market Analysis Price Prediction

2026-03-08 01:16:11

Gate News reports that on March 8, on the X platform, on-chain analyst Willy Woo stated that although Bitcoin faced local resistance near $75,000, investor capital flows have been steadily recovering since mid-February. Meanwhile, the volatility index VIX for the stock market is hinting that market sentiment may shift toward "risk-on" in the coming weeks. Willy Woo pointed out that the early decline in this bear market phase was "too rapid," and the current market environment is creating conditions for a price rebound toward approximately $85,000 (short-term investor cost basis). However, this does not mean the market has bottomed out. From a long-term liquidity perspective, Bitcoin remains in the mid-stage of the bear market. Historically, after similar rapid declines, prices tend to consolidate sideways and test key resistance levels multiple times during rebounds.

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