Willy Woo Says Bitcoin Bull Trap Is Forming as Bear Market Deepens


On-chain analyst Willy Woo warned on Saturday that $BTC is setting up a short-term rally that could mislead investors. He described the pattern as a "bull trap" in an X post and said it may last through the end of April. #Bitcoin


Woo said the setup is driven by liquidity conditions, not price levels alone. He added that he will revise his view if capital returns "in force with the right type of long-term investors." For now, he described $BTC as "solidly in the middle of its bear market." #BearMarket


He said the asset's behavior following a sharp decline is typical. According to Woo, Bitcoin tends to move sideways after fast drops before mounting a rally that tests resistance. He does not view the current recovery as a genuine trend reversal.


$BTC reached $74,000 on Wednesday but failed to hold above what Woo called the "mid-70s" range. The asset was trading around $67,012 at the time of publication. It has fallen approximately 46.82% from its all-time high of around $126,000.


Woo acknowledged that investor flows have been in "consistent recovery" since mid-February. However, he said that improvement has not been strong enough to confirm a bottom. He added that the current price level is likely not the cycle low. #CryptoMarkets


Crypto sentiment platform #Santiment shared a similar view on Saturday. It pointed to whales aggressively selling while retail investors buy below $70,000. "When retail buys while whales sell, it typically signals that the correction is not yet over," Santiment said.


Woo is not the only analyst holding a bearish stance. Crypto analyst Benjamin Cowen recently described 2026 as a "bear market year" for Bitcoin. #On-chain analytics firm CryptoQuant stated on Thursday that Bitcoin "is still in a bear market despite the recent rally."

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March 08, 2026 at 11:11 PM
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