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Willy Woo outlined new cycles for the anticipated decline in Bitcoin’s price., 2026/02/18 18:25:03
Co-founder of the Bitcoin Vector project and the investment fund CMCC Crest, Willy Woo, stated that the leading cryptocurrency has only entered the initial phase of a bear cycle, which will consist of three phases in total.
In the first phase, which commenced in the third quarter of 2025, the liquidity of the leading cryptocurrency faltered, leading to a decline in price, the businessman noted. Proponents of a long-term bullish outlook may refer to this drop as a correction; however, Woo pointed out that there is no evidence of capital inflow.
The second phase will occur when the decline impacts global stock markets. According to Woo, the vast scale of these markets causes the price drop to be slow yet significant. During this phase, all risk assets decline, making it clear that the bear cycle has fully taken hold of the market.
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The third phase signifies a stabilization of liquidity. Capital outflow reaches its peak and gradually slows down, prompting investors to return. It is often at this stage that the final capitulation of Bitcoin’s price is observed.
The co-founder of Bitcoin Vector believes that Bitcoin is currently in the first phase of the bear cycle and is nearing a transition to the second phase, which renders the leading cryptocurrency particularly sensitive to capital movements and volatility spikes in global markets.
Previously, analysts from the on-chain platform CryptoQuant reported that the Bitcoin selling profit ratio (aSOPR) has shifted into the range of 0.92–0.94. This level has historically preceded deep and prolonged phases of the bear cycle.
