Analyst Willy Woo: Bitcoin's cumulative transaction volume increment has peaked, and it will enter a rising stage afterwards
Bitcoin analyst Willy Woo stated that the current cumulative volume delta (CVD) sell-off of Bitcoin has peaked and will enter a rising phase, but it still needs several weeks to reach an appropriate bullish environment. On one hand, the Bitcoin halving is approaching; on the other hand, the longer Bitcoin consolidates near its historical high price, the more coins are transferred among investors, forming long-term support once broken through. If liquidated at a lower price and breaking below the $59k support level, a bear market may arrive.
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