Bitcoin’s price has been climbing steadily, touching highs above $110,000, but on-chain analyst Willy Woo is urging caution. He warns that speculation is getting out of hand, with the market showing signs of greed, a classic setup for a short-term pullback.
Woo says that while the long-term trend still looks strong thanks to increasing buyer strength, there could be some turbulence ahead as many investors are already sitting on large profits and may soon cash out.
Woo explains that Bitcoin is no longer behaving like it did in past bull runs. Earlier, its four-year halving cycle had a big influence, but now, he says, the bigger force is global liquidity. That means BTC is acting more like a traditional asset, moving with global economic trends rather than its usual crypto patterns.
Echoing Woo’s sentiment, crypto analyst Maui Jim believes it’s outdated to expect a predictable sell-off in September or a new bottom a year later. The market is maturing and becoming harder to predict. The fact that Bitcoin hit a new all-time high even before the halving was a major clue that the game has changed.
Despite the sharp price move from $75,000 to $110,000, Woo notes that capital inflows have been flat over the past few days, a surprising trend. This lack of buying pressure could spell trouble if U.S. markets don’t step in with more demand now that the long weekend is over.
Woo hasn’t turned bearish just yet. He believes that if enough buyers return this week, Bitcoin could shoot up to $114,000, potentially wiping out short positions. But if momentum fades, the market could cool off, forming bearish divergences and triggering another round of profit-taking.
For now, Bitcoin sits just under $110,000, holding its recent gains but walking a fine line between continued rally and short-term correction.
Given the warning signs of speculation and market greed, it’s wise to consider taking partial profits, especially if you’re already sitting on significant gains. However, the long-term trend remains strong, so holding some position while setting stop-losses to protect profits can balance risk and reward.
Since capital inflows have been flat, renewed buying from U.S. institutions or retail could reignite momentum, pushing prices toward $114K. Conversely, if U.S. markets remain subdued, it may trigger selling pressure and a correction. Watching market open volumes and demand will be key.
Despite the recent price jump, a lack of new capital inflows could lead to trouble if U.S. markets don’t inject more demand.
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