Analyst: Bitcoin may challenge the $98,000–$100,000 resistance in the short term, but the outlook for 2026 remains bearish

According to Odaily, crypto analyst Willy Woo posted on X expressing a bullish outlook for bitcoin's performance from late January to February. Currently, the internal investor flow model shows that the market has been steadily strengthening since bottoming out at the end of December last year, but prices typically take 2-3 weeks to reflect this change. In addition, derivatives liquidity in the futures market is returning after months of dormancy, similar to the situation in mid-2021, which led to the second top of the previous cycle. At this stage, bitcoin needs to challenge the price range of $98,000 to $100,000. If this level is broken, attention should be paid to the resistance at the all-time high (ATH).

However, Willy Woo remains bearish for the whole of 2026, as from a more macro perspective, liquidity flow relative to price momentum has been weakening since January 2025. If a large influx of spot liquidity occurs in the coming months to break the downward trend, it may change his view. The bear market has not yet been confirmed, which is marked by a continuous increase in negative capital outflows from bitcoin—a lagging indicator of the cycle top.