Willy Woo: Bitcoin attempting to form a bottom, $79K is key test

Cryptocurrency analyst Willy Woo has analyzed that Bitcoin is currently attempting to form a bottom. He views a breakthrough of approximately $79,000, the average cost basis for short-term investors, as the key test for a future upward trend. However, Woo remains cautious, estimating the probability of the current rebound attempt succeeding at around 30%. He added that if Bitcoin can maintain stable support above $65,000, the likelihood of a structural bottom being confirmed will increase significantly. Woo emphasized that bottoming signals are not yet fully in place and that price movements over the next three to six weeks will be a critical juncture for the mid-to-long-term trend.