Willy Woo revamps Bitcoin price target after 4 years

Willy Woo, the popular on-chain analyst, recently joined TheStreet Roundtable host Scott Melker in which he shared his outlook on a range of concerns surrounding the crypto market.

The duo talked about Bitcoin's liquidity, the possibility of an altcoin season, and digital asset treasuries.

Bitcoin 'canary in the coal mine'

One can call Bitcoin the "canary in the coal mine" because among all the global macro assets, it is most sensitive to liquidity, Woo underlined.

Bitcoin, which hit an all-time high (ATH) of $124,457.12 more than a month back on Aug. 14, has been facing a downturn of late.

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Currently, the underlying investor fundamental is in a make-or-break zone but the market could recover if the investors come back within the next three weeks, Woo remained hopeful.

Bitcoin could race up to $140,000-$160,000, he said but added he couldn't tell.

Woo told SALT Talks on April 29, 2021 that Bitcoin could reach $250K to $300K by the end of that cycle. Speaking with Brett Messing of SkyBridge Capital, Woo based his call on on-chain supply shocks and long-term investor accumulation. He later noted the target could stretch as high as $300K–$400K depending on institutional inflows.A screen showing the price of various cryptocurrencies against the US dollar including Bitcoin, from top, Ethereum, BNB and XRP displayed at a Coinhero store in Hong Kong, China on Monday, Feb. 3, 2025.

Melker wondered if the whales who liquidated Bitcoin at $120,000 had moved their tokens into treasury companies and cashed out at the stock market. Woo said it could have happened during the earlier period of the cycle, but it's kind of "playing chicken."

Though capital is coming in, it's modest in contrast to the previous cycles if we compare the market cap, he added.

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Altcoins facing competition from crypto wrappers

Next, Melker asked Woo about this cycle not witnessing an altcoin season yet. Will there be an alt season, or is it limited to whatever is available on Wall Street?

The presence of Solana exchange-traded fund (ETF) and crypto treasury stocks indicates a demand among buyers but the rest of the coins seem to be stuck, Melker rued.

Woo explained that altcoins are facing competition from public equities and wrappers around Bitcoin and other assets. However, the market has seen momentum toward Ethereum over the last month, followed by Solana, he underlined. But it's certainly nothing like the past cycles, he admitted.

This story was originally reported by TheStreet on Sep 24, 2025, where it first appeared in the Investing section. Add TheStreet as a Preferred Source by clicking here.

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