On-chain analyst Willy Woo: Bitcoin fund flows are recovering but it's still in the middle of a bear market.

CoinFeed reported on March 8th that 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 volatility index for the US stock market suggests that market sentiment may shift towards a "risk-on" stance 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), which does not mean the market has bottomed out. From a long-term liquidity perspective, he believes Bitcoin is still in the middle of a bear market; historically, after similar rapid declines, prices typically experience a period of consolidation before repeatedly testing key resistance levels during the rebound.