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

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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