PANews reported on April 27 that crypto analyst Willy Woo said that Bitcoin's fundamentals have turned bullish and capital inflows into the network are increasing, creating good conditions for it to break through historical highs. He pointed out that both the overall and speculative capital flows in the market have bottomed out, and when the two are combined, a favorable market environment will be formed. At present, market liquidity has rebounded and the downside risk is relatively small.
Woo mentioned that the medium-term target price of Bitcoin at $90,000 and $93,000 has been reached, the target of $108,000 is still there, and the new medium-term target is $103,000. Since the on-chain indicators show that the price is high, it may be difficult to rise quickly in the short term, and the market may go sideways or rise slowly. In addition, new channels for capital inflows provide convenience for traditional investors, which are recognized as collateral by banks and brokerage firms, avoiding the regulatory issues faced by Bitcoin.
