Willy Woo: Bullish on Bitcoin's performance in January and February, but cautious about 2026.

According to Mars Finance, crypto analyst Willy Woo wrote an article expressing optimism about Bitcoin's performance from late January to February, but currently bearish on 2026. Willy Woo stated, "Our internal investor fund flow model predicts that Bitcoin bottomed out on December 24th and has been steadily strengthening since. Typically, it takes 2-3 weeks for this to be reflected in the price, and this is arguably happening now (though suppressed by short-term overbought technical indicators). Another positive factor is that paper currency liquidity (futures market) is recovering after months of stagnation, similar to mid-2021, which facilitated the second top of the previous cycle. Therefore, the $98,000-$100,000 resistance level needs to hold. If this resistance is broken, the ATH resistance level needs to be observed next. However, I remain bearish on 2026 because, from a broader perspective, since 2025..." Since the beginning of the month, liquidity has been weakening relative to price momentum. We are currently in the final stages of a hot zone, where momentum lacks sufficient liquidity support. My thinking would only change if a significant influx of spot (i.e., long-term) liquidity in the coming months breaks the downtrend. It's worth noting that a bear market has not yet been confirmed, and confirmation of a bear market will manifest as a sustained outflow of funds from Bitcoin (a lagging indicator of a cycle top).