- A relief rally in the offing?
- This is not a bottom
Prominent on-chain analyst Willy Woo is warning cryptocurrency investors not to be fooled by any upcoming short-term strength in Bitcoin’s price
Woo insists the macro environment remains firmly bearish, and a potential push above the $80,000 level could end up being a bear trap
A relief rally in the offing?
According to Woo, the market is currently primed for a deceptive upward swing
HOT Stories
Bessent Meets Bukele to Talk Crypto
Crypto Market Review: Ethereum (ETH) Hits First Bullish Setup in 2026, Bitcoin Must Get Comfortable in $70,000s, Was Shiba Inu (SHIB) Price Neutralized?
“Despite a local rejection of mid-70s, investor flows have been in consistent recovery since mid-Feb,” Woo noted. “Meanwhile, expected volatility (VIX) on equities is hinting at a switch to ‘risk on’ in the coming weeks.”
Woo argues that the sheer velocity of Bitcoin’s recent drawdown has left the market temporarily exhausted and ripe for a bounce. “BTC sold off WAY TOO FAST in this early bear market, and current conditions are setting up to test mid-80s, which is the cost basis of short-term investors,” he explained.
Typically, when an asset experiences a violent flush, it eventually consolidates before retesting prior support levels. “Typically, after fast downward flushes like we have had, BTC likes to go sideways and mount a rally where resistance is tested. Bull trap forming,” he noted
This is not a bottom
Woo claims that Bitcoin remains in the middle of a bear market. Hence, he cannot say definitely whether or not the bottom is in
“This is NOT me saying the bottom is in,” he clarified. “BTC is solidly in the middle of its bear market through a lens of long range liquidity.”
The analyst defended his track record, particularly when it comes to identifying market floors.
“Cycle tops are pretty hard to nail because momentum and volatility take over …Bottoms are much easier because markets respond to liquidity immediately after a vaccuum,” he said.
When asked about the timeframe for this anticipated relief rally, Woo estimated it could stretch “out to end of April.” He added that he doesn’t rely on specific price levels to validate his thesis, but rather tracks capital flows. “I will always hold my views lightly according to liquidity changes… If capital comes back in force with the right type of long-term investors, then I’ll happily change my views.”
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
ETH/BTC Price Ratio Rebounds to 0.0313 in Q1 2026 as Ethereum User Base Surges 82%
In Q1 2026, the Ethereum-to-Bitcoin price ratio reached a three-month high at 0.0313. Ethereum added 284,000 users and surpassed $180 billion in stablecoin supply. Bitcoin remained strong above $74,000, driven by significant ETF inflows.
GateNews1h ago
Bitcoin Proposal BIP-361 to Freeze Quantum-Vulnerable Addresses Sparks Community Debate
Experts, led by Jameson Lopp, proposed BIP-361 to freeze quantum-vulnerable Bitcoin addresses to protect 1.7 million BTC from future quantum threats. The plan includes phases to enhance security but faces criticism for contradicting Bitcoin's decentralization.
GateNews1h ago
Gate’s “Crazy Wednesday” is live with a hot launch. Complete tasks to win XRP and Glenfiddich whisky. For USDT savings, earn up to 100% APY. For BTC/ETH/SOL staking, earn up to 16% mining APY.
Gate News message, according to Gate’s official announcement on April 15, 2026
Gate launches a “Crazy Wednesday” campaign, running from April 15, 2026 at 14:00 to April 19, 2026 at 16:00 (UTC+8). Users complete multiple tasks to unlock mystery boxes, with a chance to win XRP tokens and Glenfiddich whisky. The mystery box tasks include multiple categories such as flash swaps, spot, and futures trading, as well as top-ups, invitations, and VIP upgrades, and each tier corresponds to a different number of mystery box openings.
Campaign Two launches a USDT wealth-management product, with a 14-day fixed-term annualized yield of 6%. New users can also participate in a 3-day product offering 100% annualized yield. In addition, Yu’e Bao also offers multi-currency wealth-management options such as USAT, USDD, 0G, and APT, with annualized returns of up to 300%. Campaign Three introduces a boosted rewards policy for staking users, offering up to a 16% annualized return for staking BTC, ETH, and SOL; for SOL staking, staking 0–1 coins can yield up to 16% annualized.
GateAnnouncement1h ago
Bitwise CIO: $1M Bitcoin Price Realistic as Dollar Hegemony Weakens
Matt Hougan, chief investment officer at Bitwise, published an analysis on April 13 arguing that geopolitical instability—driven by the Ukraine conflict and recent US-Israeli tensions with Iran—is creating conditions for Bitcoin to reach over $1 million per coin. Hougan's thesis centers on the
CryptoFrontier1h ago
Trader with 100% Win Rate Bets $12.3K That MicroStrategy Will Hold Over 1M BTC by Year-End
A trader known as epsteinfiles has placed a $12,300 bet with Lookonchain, predicting that MicroStrategy will hold over 1 million BTC by December 31, 2026, with a flawless track record in past bets.
GateNews2h ago
XCE settles hiring expenses in Bitcoin and locks the funds into a vault, becoming the first UK-listed company to recruit in this way
The UK executive recruiting group XCE announced that it will charge service fees in Bitcoin, becoming the first publicly listed recruiting company to issue invoices in Bitcoin and complete settlement. This move reflects its “dual integration strategy”: generating revenue through normal services, without any additional capital operations, to continue accumulating Bitcoin. XCE plans to promote Bitcoin settlement options and emphasizes that all Bitcoin will be directly stored in its treasury, with no fiat-to-Bitcoin conversions.
MarketWhisper3h ago
