Willy Woo: BTC's early bear market decline is rapid, which may set the stage for a rebound to $85,000

On-chain analyst Willy Woo posted on X that bitcoin is facing local resistance around $75,000, but investor capital inflows have been steadily recovering since mid-February. The stock market's expected volatility indicator, VIX, suggests that market sentiment may shift towards "risk-on" in the coming weeks. He stated that the early stage of the bitcoin bear market saw a decline that was too rapid, and the current market environment is creating conditions for a price rebound to test around $85,000, although the market has not yet bottomed out. From a long-term liquidity perspective, bitcoin is still in the mid-stage of a bear market. Historically, after similar rapid declines, the market usually experiences a period of sideways consolidation and multiple tests of key resistance levels.