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Willy Woo: 'Peak fear' but on-chain metrics say it’s not a bear market

Published 02/01/2022, 09:58 PM
Updated 02/01/2022, 11:40 PM
BTC/USD
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Bitcoin analyst and co-founder of software firm Hypersheet Willy Woo believes that on-chain metrics show that BTC is not in a bear market despite observing “peak fear” levels.

Speaking on the What Bitcoin Did podcast hosted by Peter McCormack on Jan. 30, Woo cited key metrics such as a strong number of long term holders (wallets holding for five months or longer) and growing rates of accumulation suggest that the market has not flipped the switch to bear territory:

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