Willy Woo: BTC recovery driven by short-term futures buying, warns of 'bull trap'

On-chain analyst Willy Woo stated that the recent Bitcoin recovery is being driven by short-term buying in the futures market, warning that investors should be cautious of a bull trap as a market bottom has not yet formed. He noted that this type of liquidity is often followed by sharp price swings, or whipsaws, aimed at forcing the liquidation of opposing positions. Woo added that while on-chain data indicates potential for a rise to the mid-$80,000s—the average cost basis for short-term holders—current market liquidity suggests we are only one-third of the way through a bear market.