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Prominent on-chain analyst Willy Woo says capital flows into Bitcoin have turned positive for the first time since January. At press time, Bitcoin is trading around $75,000, and Woo believes it could move toward the $80,000 resistance level in the near term.
Woo frames the rebound as a potential short-term turning point. He notes that capital flows have shifted after a prolonged outflow trend that began in late 2025, intensified following the October 10 crash, and was further worsened by a February sell-off.
According to Woo, inflows into BTC are currently dominated by spot exchange-traded funds (ETFs). He points to more than $1 billion in inflows during April. He also highlights that last week included one of the largest ETF purchases, with BlackRock’s IBIT recording $612 million in inflows.
Woo adds that derivatives are attempting a second short-term price rebound after the October sell-off. He cites that the October 10 crash liquidated more than $19 billion in long positions. He also points to market metrics such as futures open interest and funding rates.
In his view, Bitcoin futures open interest fell sharply after the crash and has only partially recovered. Funding rates have remained mostly neutral to slightly positive in recent weeks, which Woo says has helped avoid the extreme euphoria that typically appears before deleveraging.
Woo identifies the $80,000 psychological resistance level as a milestone that could shape Bitcoin’s short-term direction. He says a decisive breakout accompanied by sustained positive flows could shift momentum toward bullish conditions. Conversely, failure to break could lead to another rejection, with Bitcoin potentially falling back toward $70,000.
While Woo emphasizes $80,000 as a near-term barrier, he has also reiterated in recent posts that a bear market is still in place. He argues that a temporary improvement in BTC’s fortunes would not change the broader long-term setup.
Woo also previously said he expects a major price squeeze in the coming months below $60,000, suggesting that level is likely to determine the bottom for the current cycle.

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