Bitcoin reaches new highs, analyst predicts bottom

Bitcoin (BTC) may have already bottomed out after a sharp pullback following new all-time highs last week, according to popular analyst Willy Wu. He provided a list of "good" and "bad" news about Bitcoin fundamentals, comparing the recent asset consolidation to past bull markets.

Bitcoin's "expected inflows" have also likely bottomed, and the long-term macro structure "remains bullish," Wu said. However, not everything looks optimistic: long-term interest still remains in the Bitcoin perpetual futures market, which needs to decline by 10-20% to return to a normal range. Wu noted that March is historically a sideways trading month, while April could be "sharp in both directions" based on current data.

热点：Bitcoin OUT