Bitcoin bull market 'still halfway' after $30K BTC price crash destroys leverage
The classic end of a Bitcoin bull run, a "mania top," has not appeared yet, while fundamentals are unchanged in their outlook, says Willy Woo.
Bitcoin (BTC) is still "halfway" through its current bull market and this week's price dip turned out to be a "win" for hodlers, according to on-chain analyst Willy Woo.
"Are we in a bull market? Long range macro indicators like NVT ratio are very healthy, that remains unchanged," Woo wrote.
In fact, the dip may have been just what Bitcoin needed.
"
Newish whales dumped out, retail bought a chunk of the dip, coins getting more distributed, I'll take that as a win," Woo added.
