Analyst: Bitcoin May Challenge $98,000–$100,000 Resistance in the Short Term, but Bearish on Full-Year 2026 Trend

Odaily Crypto analyst Willy Woo stated on platform X that he is bullish on Bitcoin's performance from late January to February. This is because the current internal investor flow model shows the market has been steadily strengthening after hitting a bottom in late December last year, but prices typically take 2-3 weeks to reflect this change. Additionally, derivative liquidity in the futures market is returning after months of dormancy, similar to the situation in mid-2021, which led to the second peak of the previous cycle. At this stage, Bitcoin needs to challenge the price range of $98,000 to $100,000. If it breaks through this level, the performance at the all-time high (ATH) resistance will need to be observed.

However, Willy Woo remains bearish on the entirety of 2026. From a more macro perspective, liquidity flows relative to price momentum have been weakening since January 2025. If a significant influx of spot liquidity emerges in the coming months to break the downtrend, it might change his view. Currently, a bear market has not been confirmed; its hallmark would be a sustained increase in negative capital outflows from Bitcoin, which is a lagging indicator of a cycle top.