Important Bitcoin Move Is Unstoppable; BTC To See Sells Only At $40k, Willy Woo Says

The important crypto analyst Willy Woo believes that certain metrics hint at the fact that Bitcoin will make a really big move soon. Check out more details about this below.

The analyst said to Twitter followers that Bitcoin’s cost-basis analysis could signal that BTC’s re-accumulation phase has begun.

The analyst shared a chart showing the cost basis of long-term holders (LTHs), or those who have held onto Bitcoin for at least 155 days, and short-term holders (STHs).

He says that STHs have a lower cost basis than LTHs, suggesting that Bitcoin has already carved a bear market bottom in the last few months and is now about to enter a new phase.

“Bottoms are signaled when short-term holders (recent buyers) got in cheaper than long-term holders. We are now moving out of this regime.”

The analyst also says “April will be an interesting month to watch” for BTC as sellers are nowhere to be seen until $40,000.

“Orderbook liquidity is thinning out, and a big liquidity gap from here to $40,000. Volatility ramping up is a near certainty.”

He continued and posted the following:

“Price stability forming a peak, this is probabilistically a prelude to a big move (usually happens within a week).”

At the moment of writing this article, BTC is trading in the red and the king coin is priced at $30,058.

Santiment says the number of Bitcoin hodlers, or entities that have little history of selling BTC, is in the midst of a steep rise.

According to the analytics firm, the growing number of Bitcoin hodlers looks similar to two years ago when Bitcoin rose from around $30,000 to $64,000 in just a few months.

“There is a rising rate of Bitcoin hodlers as traders seem to have become increasingly content in keeping their bags unmoved for the long-term. We saw a similar trend from January 2021 through April 2021 when BTC rose above $64,000 for the first time.”