NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

Bitcoin Bulls Beware: ‘Bears Are Still In Control,’ Says Top Analyst – Here’s Why

Samuel Edyme
Samuel Edyme
1 year ago
3 mins read
Bitcoin Bulls Beware

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Despite a recent uplift in Bitcoin market price, which saw the crypto momentarily breach the $62,000 mark, the widespread consensus among crypto analysts suggests that this increase is temporary and that the bearish pressure is far from over.

Particularly, prominent crypto analyst Willy Woo voiced earlier that the minor surge was primarily a “technical” response to oversold conditions and did not indicate underlying market strengths.

Related Reading

Bitcoin To Hit New Heights

Bitcoin To Hit New Heights? Analyst Predicts 10x Growth In Few Years — Here’s How

1 year ago

Bitcoin Bears Are Still In Control

Diving into Woo’s analysis shared on Elon Musk’s X platform, Woo remarked that although Bitcoin recently rebounded from a significant dip below $60,000, fundamental market indicators remain weak, signifying that the recent price action is not a reliable indicator of sustained recovery.

According to Woo, the bounce back is driven by technical factors such as the TD9 reversal and a hidden bullish divergence rather than genuine market recovery.

“The markets would correct for overselling,” Woo explained, highlighting that current trading activities do not reflect a shift in the basic supply and demand dynamics essential for a genuine bullish market turnaround.

He further emphasized that spot buying needs to be substantially increased for a true bullish sentiment to take hold, which remains lackluster.

Nice to see some of the speculation getting purged the last few days.

Still a bit heavy, still too much speculation.

Bears still in control, but #Bitcoin got so oversold in the liquidations that it’s really hard to go lower without an uptick. pic.twitter.com/EJeqmaLe0Z

— Willy Woo (@woonomic) June 26, 2024

Woo further points out that speculative pressures are still rampant, with an excess of synthetic coins in circulation yet to be replaced by genuine market purchases. This imbalance underscores a market dominated by speculation rather than investment, with long-term sustainability in question.

The analyst suggests the market might experience a few more weeks of stagnation or minimal gains, reminding of the anticipated bounce from hash rate. Woo noted:

And we are still waiting on hash rate to bounce which is a leading sign that miners have stopped selling to fund hardware upgrades. So be prepared for very boring price action for many more weeks. It’s not moon boy time. It’s time for speculators to liquidate themselves, or until they get bored and close positions. Then we can move on. Best path here is to stack spot and let degens die.

BTC’s Volatile Journey And Potential 40% Drop

The leading cryptocurrency by market cap has endured a tumultuous few months, marked by a significant downturn.

After reaching a new high above $73,000 in March, Bitcoin has since retreated by nearly 20%, recently rebounding to just over $61,000 after briefly dipping to a 24-hour low of $60,606.

This volatility aligns with analyst comments suggesting that bearish trends may continue to dominate. An analyst recently noted on X that Bitcoin holders might face further declines.

Related Reading

Bitcoin's Correction Is Not Done

Bitcoin’s Correction Is Not Done: $54K Could Be On The Horizon, Says Top Analyst

1 year ago

The analyst pointed to the selling patterns of long-term holders (LTHs) during previous cycles, predicting a potential 40% drop from all-time highs. Meanwhile, on-chain data indicates that Bitcoin is hovering near a threshold that typically marks the transition into the ‘euphoria’ phase of market cycles.

Bitcoin (BTC) price chart on TradingView
BTC price is moving downwards on the 2-hour chart. Source: BTC/USDT on TradingView.com

Featured image created with DALL-E, Chart from TradingView

Tweet123Share196ShareSend
Samuel Edyme
Samuel Edyme

Samuel Edyme

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

pepenode

Το PepeNode ξεπέρασε το $1,2 εκ. στην ICO – Μόνο 24 ώρες απομένουν για να μπεις στη χρηματοδότηση

Το PepeNode (PEPENODE), το πρώτο meme coin virtual mining game, ξεπέρασε τα $1,2 εκατομμύρια σε presale χρηματοδότηση. Το ορόσημο αυτό...

Ιωάννης Ριζόπουλος 4 hours ago
Bitcoin Price Recovery Hopes Rise

What To Expect From The Bitcoin Price If September Closes In The Green

Over the years, different trends have emerged for the Bitcoin price depending on how the month ends, either in the...

Scott Matherson 5 hours ago
BTC, Bitcoin

Bitcoin Set Up For ‘Promising’ Q4, Next Two Weeks Could Be Decisive

As the overall market continues to move sideways, Bitcoin (BTC) is attempting to reclaim its local range highs as support....

Rubmar Garcia 7 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

stablecoins payroll

Stablecoins και μισθοί σε crypto: Πώς αλλάζει η παγκόσμια αγορά εργασίας

Ιωάννης Ριζόπουλος 1 hour ago
Crypto news Bitcoin Fed FOMC

The Fed Just Changed Everything For Crypto, Says Top Trader

Jake Simmons 3 hours ago
Bitcoin

From $2 Trillion To $400T? CEO Sees Bitcoin Exploding 200x – Here’s More

Christian Encila 4 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の価格予測:2021年以来の強気シグナル点灯、1ドル到達への300%上昇も視野に

    ドージコイン...

    33 minutes ago
  • リップル 今後の価格動向:ETF承認で100ドル突破への道筋は開けるか

    リップル...

    45 minutes ago
  • 仮想通貨プレセール最新動向:イーサリアムやカルダノを凌ぐと予測される新興プロジェクト

    ...

    58 minutes ago
  • 仮想通貨おすすめ:第4四半期に注目される新興コインとカルダノ・パイの比較

    ...

    1 hour ago
  • FRB利下げ後にビットコインが117,000ドル突破、新しい仮想通貨プレセールが注目を集める

    ...

    2 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.