Bitcoin’s (BTC) price is generating intense debate among experts. The main cryptocurrency is struggling to stay above $60,000 this week. Analyst Willy Woo warned of a potential “dead cat bounce”. However, other experts maintain an optimistic view, suggesting the bottom may already be forming.
The market is showing mixed signals after a recent drop. Bitcoin has experienced notable volatility. The difficulty in overcoming key levels worries short-term investors. According to Woo, if the price fails to sustain a convincing rally, it could confirm a temporary bearish scenario. Furthermore, selling pressure from miners appears to be easing. This technical factor is crucial. Capital flows into BTC ETFs are also being closely monitored, showing a slight recovery.
The current discussion is not new, but it gains relevance at the $60,000 level. This price is a vital psychological and technical support for the asset. The general market sentiment is one of extreme fear, especially in the altcoin sector. Historically, high levels of fear have preceded significant market recoveries. Therefore, the debate centers on whether the current bull cycle has ended. Or if, on the contrary, this is just a necessary consolidative pause.
Will We See a New All-Time High of $118K?
Despite the bearish warnings, some analysts see a very different picture. Popular analyst Credible Crypto offered a contrary perspective. He suggests that Bitcoin is forming a bottom at current levels. His Bitcoin price analysis and bullish targets are set in the $100,000 to $118,000 range. This projection assumes that the current market structure is a correction. Such a correction would be preparing the ground for the next upward impulse wave.
Bitcoin’s short-term direction remains uncertain. Investors are closely watching the weekly close. This close could validate or invalidate the bearish theories. If the support holds, confidence could return to the market. Otherwise, the door would open for deeper corrections. Next week will be decisive in defining the trend. Meanwhile, the global economy and US inflation data will also influence risk assets.
