Willy Woo: BTC's rapid decline in the early stages of this bear market is currently creating conditions for a rebound to $85,000.

According to TechFlow TechFlow, on March 8th, on-chain analyst Willy Woo published an article on the X platform stating that although Bitcoin encountered local resistance around $75,000, investor flows have been steadily recovering since mid-February. Meanwhile, the VIX, an indicator of expected volatility in the stock market, is suggesting a potential shift in market sentiment towards "risk-on" in the coming weeks. Willy Woo pointed out that Bitcoin's decline in the early stages of this bear market was "too rapid," and the current market environment is creating conditions for a price rebound to test around $85,000 (the cost price for short-term investors), but this does not mean the market has bottomed out. From a long-term liquidity perspective, Bitcoin is still in the middle of a bear market. Historically, after similar rapid declines, prices typically experience a period of consolidation, repeatedly testing key resistance levels during rebounds.