Willy Woo warns that Bitcoin's current rally could be a "bull trap," despite strong underlying fundamentals. He notes that on-chain and funding metrics show strength, potentially allowing BTC to test the mid-$80,000 range (short-term holder cost basis). However, Woo cautions that the upward movement is primarily fueled by the futures market and speculative, short-term capital. This type of liquidity can cause sharp, volatile "whipsaw" movements designed to liquidate leveraged positions. He believes the market hasn't established a definitive bottom, and from a liquidity perspective, the bear market cycle is only about one-third complete. Therefore, Woo suggests this rebound might be a deceptive "bull trap." #BTC #WillyWoo