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