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Analyst: Bitcoin's bottoming conditions are not yet mature, and the short-term probability of breaking through $79k is only 30%
According to the latest post by crypto analyst Willy Woo on the X platform, Bitcoin's next key test is whether it can effectively break through its recent investor cost basis, which is around $79k.
Woo estimates that the probability of successfully breaking through this cost basis is only about 30%, but if Bitcoin can hold above $65,000 without falling below, the probability of forming a structural bottom will significantly increase.
He also stated that Bitcoin is currently attempting to bottom out, but the conditions are not yet ripe. The performance over the next 3 to 6 weeks will be crucial in determining whether the bottom can be established.
In summary, analysis suggests that Bitcoin is at a critical turning point. Whether it can successfully break through $79,000 will directly influence the market's future direction.
At the same time, the performance over the next 3 to 6 weeks will also determine whether a structural bottom is truly established, and investors should closely monitor this key time window.
#Bitcoin Cost Basis