Analyst Willy Woo is bullish on bitcoin's short-term performance but bearish on its outlook for the entire year of 2026.

Crypto analyst Willy Woo posted on X that after bitcoin bottomed out at the end of last December, the market has been steadily strengthening. He expects the price to challenge the $98,000 to $100,000 range from late January to February, and after a breakout, it will be necessary to observe how resistance at the all-time high performs. He pointed out that derivatives liquidity in the futures market is returning, similar to the situation in mid-2021. However, from a macro perspective, since January 2025, liquidity flow relative to price momentum has weakened, and he is bearish on the overall trend for 2026 unless spot liquidity surges in the coming months to break the downward trend. The bear market has not yet been confirmed, and its sign would be an increase in negative capital outflows from bitcoin.