Date: 2025-05-29
Bitcoin markets could be in for another prolonged period of consolidation if there isn’t more buying pressure this week, says analyst Willy Woo. The strength of Bitcoin’s (BTC) run from $75,000 on April 7 to its all-time high just below $112,000 on May 22 “is starting to break down,” Woo wrote to X on May 28. “This week is absolutely critical,” he said. “If we do not get follow-through, then we will be up for another consolidation period.”Woo said that in the short term, “late comer speculators” are taking long positions while potential profit taking “is ready to dump” as seen in the Bitcoin Spent Output Profit Ratio (SOPR), which is a measure of the price paid divided by the price sold. “This week’s spot buying will strongly influence the ...
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