On-chain analyst Willy Woo, writing on the X platform, stated that although Bitcoin encountered localized resistance around $75,000, investor flows have been steadily recovering since mid-February. Meanwhile, the VIX volatility index for the stock market is suggesting a potential shift in market sentiment towards "risk-on" in the coming weeks. Woo pointed out that Bitcoin's decline in the early stages of this bear market was "too rapid," and the current market environment is creating conditions for a price rebound to test around $85,000 (the cost price for short-term investors), but this does not mean the market has bottomed out. From a long-term liquidity perspective, Bitcoin is still in the middle of a bear market. Historically, after similar rapid declines, prices typically experience a period of consolidation, repeatedly testing key resistance levels during rebounds.