Bitcoin is poised to break another all-time high as capital flows are surging and sparking a strong build-up in fundamentals and investor confidence for a huge rally, according to a top analyst.
Prominent onchain analyst Willy Woo shared a bullish bitcoin price outlook on social media platform X on April 27, sharing an update on recent capital trends.
Capital flows into the network are ramping up. Both total and speculative flows have bottomed, when both align they join forces to make a bullish environment anchored in fundamentals, ” explained Woo.
His analysis indicated that not only has speculative interest returned, but more importantly, fundamental investment is becoming stronger, which aligns with Woo’s previous commentary on the importance of capital versus price trends.
He elaborated on price targets by noting: “Our medium term targets of 90K and 93K have been taken out. The 108K target is still in play with a new interim target of 103K forming.”
According to Woo, reaching these milestones shows that bitcoin is moving on a strong technical path, which is being supported by the return of liquidity and investor confidence.
Analyst closed out his outlook with a broader view of the market's trajectory.
BTC is setting up for another break of all-time highs if the capital flow trend continues. It’s a solid long term setup. All dips are for buying under the present regime. In the very short term, there’s good chances of dips, ” stated analyst.
Although Woo acknowledged the possibility of minor pullbacks in the immediate future, he highlighted that in current conditions, such dips are more likely to be buying opportunities.
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