Prominent on-chain analyst Willy Woo has highlighted that capital Flows into Bitcoin have turned positive for the first time since January of this year. The largest cryptocurrency by market capitalization is trading right around $75k at press time, and Woo believes it could approach the $80k resistance level in the near future.
This price rebound could be a major short-term turning point for Bitcoin, as capital flows have turned positive after a long trend of outflows began in late 2025, intensified following the dramatic October 10 crash, and were further exacerbated by the damning February dump.
Woo tweeted:
Capital flows into BTC are currently dominated by spot Exchange Traded Funds (ETFs), which have already seen more than $1 billion in inflows in April. Last week witnessed one of the largest investments through these financial instruments, with BlackRock’s IBIT leading with $612 million in inflows. Analysts like Woo understand the positive impact of big money like this entering the market and improving the short-term setup for the digital asset.
Woo further argues that derivatives are attempting a second short-term price rebound after the October bloodbath, which liquidated more than $19 billion in longs, as evidenced by metrics such as futures open interest and funding rates.
 
Bitcoin Futures’ open interest dropped sharply post-crash and has only partially recovered, while funding rates have remained mostly neutral to slightly positive in recent weeks—avoiding the extreme euphoria seen before the deleveraging.
Here is the graph for the Bitcoin Open Interest rate for the last 6 months:
Woo has identified the $80k psychological resistance level as an important milestone that will define the cryptocurrency’s short-term future. A decisive breakout with sustained positive flows in the backdrop could shift the momentum towards the bulls. Failure to do so risks another major rejection, sending the crypto crashing back to $70k.
However, user replies on X showed that not everyone is convinced about a major $80k test in the near future.
One X user replied to Woo:
However, one user agreed that ETF inflows will likely dominate the market, not derivatives:
The Future
While Woo has identified the $80k resistance level as a major short-term barrier, he has consistently tweeted over the last few months that the bear market is in, and that a temporary change in BTC’s fortunes won’t alter the long-term setup for now.
The cryptocurrency is slated for a major price squeeze in the coming months below $60k, and that is likely to determine the bottom for this cycle, Woo argued before.
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