Bitcoin’s On-Chain Fundamentals Still Bullish, Says Leading Analyst

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Bitcoin has faced a slight retracement since the $16,500 highs set a few days ago. The leading cryptocurrency has dropped to $16,000 as of this article’s writing and fell as low as $15,700 on Saturday morning. Despite this, Willy Woo said that the on-chain fundamentals remain bullish. Bitcoin Remains Bullish: Willy Woo Bitcoin has faced a slight retracement since the $16,500 highs set a few days ago. The leading cryptocurrency has dropped to $16,000 as of this article’s writing and fell as low as $15,700 on Saturday morning. Analysts fear that this drop is the start of a stronger move to the downside. The cryptocurrency flirting with the $16,000 support is a worrying sign, to be sure. But according to Willy Woo, a prominent on-chain analyst, there is not a big reason to be concerned. He did admit that Bitcoin’s short-term technicals are in a bearish state, with there being…

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