TechFlow reported, citing Cryptoglobe, that on-chain analyst Willy Woo said Bitcoin (BTC) may need to test the $39,000 range before continuing its upward trend. He pointed out a significant trading gap at $39,700 in the Chicago Mercantile Exchange (CME) futures market, suggesting this gap could lead Bitcoin to retrace to the $39,000 level.
At the same time, Woo highlighted bullish factors for Bitcoin, including lower interest rates, returning global liquidity, a potential peak in the U.S. Dollar Index, upcoming Bitcoin ETFs, and corporate treasury demand for Bitcoin.




