Willy Woo Reveals His ‘Big Worry’ for Bitcoin As BTC Begins To Trade Like Other Macro Assets - The Daily Hodl

The Daily Hodl
The Daily Hodl

18 Sep 2023 6:05 PM

Widely followed on-chain analyst Willy Woo says there's one thing making him worried about the future of Bitcoin (BTC)....

  • On-chain analyst Willy Woo is worried about the growing "financialization" of Bitcoin through derivative products.
  • He believes that these products have the ability to manipulate price and take liquidity away from BTC.
  • Bitcoin's Sharpe Ratio metric has declined since the introduction of BTC derivatives in 2019.
  • Woo sees Bitcoin trading like any other macro asset on the planet, which is a concern for him.
  • He also expresses concerns about the potential influence of larger entities on Bitcoin's price if a spot Bitcoin exchange-traded fund (ETF) is approved.

The sentiment of the article is negative, as it highlights the concerns and worries expressed by Willy Woo regarding the future of Bitcoin.

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