On-chain analyst Willy Woo has updated his Bitcoin price target, suggesting the cryptocurrency could reach between $140,000 and $160,000. This comes four years after his previous prediction of $250,000 to $300,000 made in April 2021.
Woo shared his outlook during TheStreet Roundtable with host Scott Melker. The conversation covered Bitcoin’s liquidity, potential altcoin season, and digital asset treasuries.
Bitcoin hit an all-time high of $124,457.12 on August 14, 2025, but has been experiencing a downturn since then. Despite this recent pullback, Woo remains hopeful about recovery.
During the interview, Woo called Bitcoin the “canary in the coal mine” because it is the most sensitive to liquidity among global macro assets. This sensitivity makes Bitcoin a leading indicator for market conditions.
According to Woo, the current investor fundamental is in a critical zone. The market could recover if investors return within the next three weeks.
Back in April 2021, Woo told SALT Talks that Bitcoin could reach $250,000 to $300,000 by the end of that market cycle. He based this prediction on on-chain supply shocks and long-term investor accumulation.
At that time, Woo even suggested the target could stretch as high as $300,000-$400,000 depending on institutional inflows. His revised target of $140,000-$160,000 represents a more conservative outlook.
Melker raised the question of whether whales who sold Bitcoin at $120,000 had moved their tokens into treasury companies and cashed out in the stock market. Woo acknowledged this might have happened earlier in the cycle, describing it as “playing chicken.”
While capital is flowing into the market, Woo noted it’s modest compared to previous cycles relative to market capitalization. This suggests a maturing market with different dynamics than past bull runs.
The interview also addressed the lack of a strong altcoin season in the current cycle. Melker pointed out that despite the presence of Solana ETFs and crypto treasury stocks indicating buyer demand, most other coins seem to be stuck.
Woo explained that altcoins face competition from public equities and wrappers around Bitcoin and other assets. This represents a shift in how capital enters the cryptocurrency market.
The market has seen some momentum toward Ethereum over the last month, followed by Solana, but Woo admitted it’s not comparable to past cycles. The changing landscape of cryptocurrency investment vehicles has altered traditional altcoin season patterns.
Woo’s analysis suggests the cryptocurrency market is evolving, with traditional patterns being disrupted by new investment vehicles and changing investor behavior. With Bitcoin currently off its recent high, the next few weeks will be critical in determining whether it can recover and reach Woo’s projected range.
The upcoming FTX reimbursement of $1.6 billion to creditors on September 30 could potentially inject liquidity into the market, though this is $300 million less than initially projected.
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