Bitcoin (BTC) has the potential to reach $108,000, analysts reveal supporting factors

Jakarta, Pintu News – Leading on-chain analyst Willy Woo recently revealed that Bitcoin has the potential to reach all-time highs again if current capital flows continue. Woo suggested that the price drop should be taken as a healthy correction and an opportunity to buy, not as an indication of an impending market crash.

Is Bitcoin (BTC) About to Hit a New Record High?

Willy Woo shared his analysis via a thread on X (formerly Twitter), where he emphasized that strong fundamentals support Bitcoin’s (BTC) bullish trend. There has been an increase in capital flows into the Bitcoin (BTC) network, with total and speculative capital flows recently bottoming out.

This creates a very bullish environment for the asset. According to Woo, Bitcoin’s (BTC) increased liquidity is evident from the risk model showing a downward trend, indicating that market liquidity has returned. Therefore, future price drops are likely to be smaller and less severe, which reduces the risk of massive selling.

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Medium and Long Term Price Targets

Woo added that Bitcoin (BTC) has successfully reached the medium-term price targets of $90,000 and $93,000. Furthermore, a new interim target of $103,000 has been formed, which suggests that Bitcoin (BTC) is likely to reach this level before moving towards a new record high of $108,000. These targets are supported by sustained capital flows, not just speculative trading, which strengthens the case for a durable upward trajectory.

Short-term Challenges and Market Outlook

While the long-term outlook is optimistic, Woo cautions that short-term challenges may arise. Bitcoin’s (BTC) on-chain Volume Weighted Average Price (VWAP) is currently at +3 standard deviations, which indicates that the current price is well above its typical range.

When an asset moves so far above its average, it is considered too high. Woo explains that it will be difficult to move upwards with decent momentum due to overextension. According to this metric, the most likely outcome is to move sideways or increase slowly and gradually rather than a quick rally.

Conclusion

With strong indications of on-chain analysis and value recovery already taking place, investors and market watchers may see this period as a golden opportunity to get involved in the Bitcoin (BTC) market. Although there are some short-term headwinds, the long-term direction shows enormous potential for growth.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• BeInCrypto. Bitcoin All-Time High Analysis. Accessed on April 28, 2025
• Featured Image: Generated by AI