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The Coin Rise 2025-05-29 12:45:52

Bitcoin May Enter Sideways Phase Without Fresh Buying Pressure, Warns Willy Woo

Bitcoin May Enter Sideways Phase Without Fresh Buying Pressure, Warns Willy Woo

Bitcoin’s recent price rally appears to be losing momentum, and a lack of strong buying this week could result in another extended consolidation period, according to on-chain analyst Willy Woo. Writing on X on May 28, Woo warned that the strength behind BTC rally from $75,000 on April 7 to its all-time high just under $112,000 on May 22 is “starting to break down.” “This week is absolutely critical,” Woo wrote. “If we do not get follow-through, then we will be up for another consolidation period.” He pointed to the current behavior of speculators entering long positions late and noted signs of profit-taking based on the Bitcoin Spent Output Profit Ratio (SOPR), which reflects the difference between buying and selling prices. Woo believes BTC is now in a “pivot zone,” with the outcome of this week’s price action likely to determine the trajectory for the next month or two. Despite the near-term risks, he remains optimistic about the bigger picture. “Buy-side liquidity is dominating,” Woo added, suggesting that long-term fundamentals remain strong. Pressure Builds Near Key Price Levels In addition to Woo’s remarks, analysts at crypto exchange Bitunix echoed concerns around a potential short-term pullback. They emphasized that BTC is facing technical resistance around $110,800 — a level where recent rallies have stalled and which now serves as a battleground between bullish and bearish traders. Support at $108,000 has proven significant over the past two days, but Bitunix cautioned that a break below this level could trigger more profit-taking and shift the market bias toward the downside. A slight rebound in U.S. consumer sentiment this week could provide a short-term boost to risk appetite, but analysts agree that without a clear breakout above resistance, Bitcoin may continue moving sideways for a while. Bitcoin Bold Predictions Amid Uncertain Near-Term Outlook Despite the immediate uncertainty, some big names remain highly bullish on Bitcoin’s long-term prospects . Speaking at the Bitcoin 2025 conference in Las Vegas, Donald Trump Jr. and Eric Trump predicted BTC could hit $170,000 by the end of 2026. Meanwhile, Bitcoin pioneer Adam Back went even further , forecasting a $1 million BTC price within five years. At the time of writing, BTC was trading at $108,785, with no major movement in the past 24 hours. It struggled to gain traction above $108,000 in early trading on May 29. The post Bitcoin May Enter Sideways Phase Without Fresh Buying Pressure, Warns Willy Woo appeared first on TheCoinrise.com .

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