For Willy Woo, “the structure of bitcoin is in good condition.”
David Zanoni explains his bearish projection and Darkfost detects opportunity in the market.
The price of bitcoin (BTC) has entered a period of lateralization that kept it trapped for the last 7 days around $77,000.
As can be seen in the following image, the digital currency dropped last Friday, May 23, 2026 to 74,500, but quickly recovered. At the time of this publication, Monday, May 25, bitcoin is trading at $77,300.
Sooner or later, bitcoin will have to break out of this sideways structure, either towards higher or lower prices. In this context, there are divided opinions on what the next movements of the asset could be.
“Bitcoin’s structure is in good shape,” says Willy Woo
Willy Woo, financial analyst and professional trader, analyzes various on-chain indicators and metrics (specifically the following: Macro Cyclo Risk Model, Bitcoin Flow Model and Bitcoin Tactical Positioning) for determine as follows:
In general, the structure [de bitcoin] is in good shape, liquidity has not decreased but remains neutral, while short-term oscillators cool down, making immediate bullish activity difficult. For now, we should wait and see what happens; There is no indication of a bitcoin crash at this time. Liquidity is at a balance point.
Willy Woo, trader and market analyst.
As CriptoNoticias reported on April 13, Woo, who previously maintained that bitcoin’s path would be bearish, showed signs of a change of opinion in line with the change in trend in the market.
On the current stagnation that appears to have bitcoin around $77,000, Woo explains that We are seeing “a slowdown in bitcoin after being overbought,” which represents a “tactical obstacle for the bulls.”
“The next price drop could be near,” according to David Zanoni
For his part, analyst David Zanoni is not optimistic about a rise in the price of bitcoin. According to this specialist in traditional stock markets, There are signs that “the next fall [de precio de bitcoin] It could be close.
Zanoni comment that, based on the historical cycles of bitcoin, “It is expected to bottom out in a bear market in September or October 2026.”
This analyst not only projects price drops but also dares to speculate on what the bottom of bitcoin could be:
The current BTC bear market may see a less steep decline, potentially bottoming around $38,000, which would reflect greater adoption and demand for ETFs.
David Zanoni, market analyst.
This drop would represent approximately a 70% drop from the all-time high of $126,000. Zanoni explains to support his projection: «I chose 70% because the bear market of each price cycle tends to be less pronounced than the previous one. The last cycle hit bottom after a 78% drop. The previous cycle suffered a drop of approximately 85%. Therefore, this price cycle is likely to see a smaller drop than the previous cycle’s 78%.”
It is worth clarifying that this projection of bitcoin near $40,000 coincides with the one that Willy Woo and other analysts publicly defended approximately 2 or 3 months ago. Then, with the rise in the price of bitcoin, these bearish expectations were moderated, although Zanoni maintains them and makes them public.
Although Zanoni makes his bearish projection based on his personal analysis of bitcoin’s historical cycles, he clarifies that “of course, there is no guarantee that the current bear market will last a similar period.”
According to this analyst, bitcoin would give an ideal entry when there is “a bullish divergence in the relative strength index [RSI, por sus siglas en inglés] on a weekly level.
Zanoni maintains caution in his statements and, given the possibility that the analyzes and projections have errors, ends up making a recommendation for dollar cost averaging (DCA). This is in order to make entries at various prices without having to guess what the bottom of bitcoin’s fall would be.
«Since December 2025 there has not been such a bearish sentiment in bitcoin»
Darkfost, pseudonym of a verified Quantfury analyst who bases his outlook largely on bitcoin flows to exchanges, comment that “Bitcoin demand has fallen to its lowest level of the year.”
Specifically, Darkfost refers to the apparent demand for bitcoin which, he explains, “is calculated as the difference between the new issuance of bitcoin and the amount of supply that has remained idle for more than a year.”
The specialist says that “this metric helps estimate whether the structural accumulation is strong enough to absorb the new supply created by the network.”
with an estimate [de demanda aparente] which is now approaching -147,000 BTC, we have to go back to December 2025 to find such bearish market sentiment.
Darkfost, market analyst.
And what does this imply for the future of the price of bitcoin in the short and medium term? For Darkfost, “this development suggests that demand continues to gradually contract.” Therefore, according to the analyst, “without a significant recovery in spot demand, it is difficult to imagine bitcoin sustaining a lasting rally solely through momentum driven by futures markets.”
But, unlike Zanoni, Darkfost doesn’t seem so sure that bitcoin’s next moves are necessarily bearish. This on-chain analyst believes that, “although this situation seems relatively bearish in the short term, these types of environments have also historically generated interesting opportunities for long-term investors capable of maintaining patience. “Periods when demand slows dramatically and sentiment becomes overly pessimistic are often the times that deserve the most attention.”
There is noise in the short term, but bullish fundamentals remain
In short, the conflicting positions of these specialists reflect that the market is going through a scenario dominated by diverse opinions and a lot of “noise” in the short term.
To this uncertain technical and on-chain panorama we must add the growing global geopolitical tension, since it is very likely that The upcoming news on the war in Iran acts as a decisive catalyst and mark the following movements in the price of bitcoin.
Taking this into account, in the face of imminent volatility, the application of strategies such as dollar cost averaging (DCA) combined with a more long-term vision can be not only prudent, but also very useful for the investor.
After all, beyond the uncertainty and noise of the moment, Bitcoin continues to consolidate solid bullish fundamentals that transcend the current situation.