BlockBeats News, March 30th: Cryptocurrency analyst Willy Woo stated that some traditional on-chain models indicate that BTC’s bottom is roughly between $46,000 and $54,000, while also suggesting a possible waiting period. The capital size stored in BTC has been flowing out since November. However, it is important to note that these models also have limitations.
These models are based on historical behavior, and Bitcoin has only experienced four bear markets in its history, all of which occurred in the context of a long-term bull market for risk assets. If this foundation is broken, we may enter uncharted territory (a deeper bear market). Finally, it is my personal belief that due to the possible breakdown of the long-term global macro bull market structure, the probability of a deeper bear market is quite high.
