Bitcoin Price Could Fall Between $46,000–$54,000, Says Analyst

Highlights:

• Analyst Willy Woo says Bitcoin could bottom between $46,000 and $54,000 based on older on-chain market models.
• He said capital stored in Bitcoin has been leaving the network steadily since November.
• Woo added that the CVDD Floor Model keeps rising over time and now sits near $45,500.

In an X post on Monday, on-chain analyst Willy Woo shared a cautious view on Bitcoin (BTC), saying the next major support level could lie between $46,000 and $54,000. Woo, known for using blockchain data to study market trends, based his view on older on-chain models that track investor behavior during weak market phases.

CVDD Model Signals Deeper Bitcoin Risk

On-chain models study public blockchain data. Instead of relying only on price charts, these tools track real network activity, such as when coins are bought, sold, or held by different groups of investors.

Woo pointed to the CVDD Floor Model, short for “Coin Value Days Destroyed,” which currently shows a possible bottom near $45,500. This model shows the long-term spending behavior of Bitcoin holders to estimate where the price may settle during a correction. Woo added that capital stored in the Bitcoin network has been leaving since November, which shows some investors have been pulling back during uncertain market conditions.

Woo also stressed that these models have been tested in only four past bear markets. All of those periods took place when global financial conditions were relatively supportive. That means the model can offer useful direction, but it does not guarantee the same result this time. If wider economic conditions weaken, including tighter central bank policy, rising unemployment, or geopolitical tensions, the Bitcoin price could face more pressure than past market patterns suggest.

A note of caution on these models.

Models use past behaviour… there's only been 4 prior bear markets and they have been inside a secular bull market in risk equities. If that foundation collapses, we will be in uncharted territory (deeper bear).https://t.co/QbqLcY7RTS

— Willy Woo (@willywoo) March 30, 2026

Market sentiment also shows caution. Data from prediction markets suggests many traders still think Bitcoin could fall to $45,000 before the end of the year. That shows the market is preparing for more volatility, but there is no sign of broad panic. Some investors may see Woo’s support zone as a possible buying area. Others may prefer to wait until Bitcoin shows clearer signs of stability.

Middle East Tensions Add Pressure on Bitcoin Price

Bitcoin and the wider crypto market are still trading below last week’s levels as tensions in the Middle East continue. At the time of writing, BTC was trading at $67,726, according to CoinMarketCap. Bitcoin’s market capitalization stood at $1.35 trillion, up 1.647%, while its 24-hour trading volume reached $28.69 billion, rising 47.29%.

The largest cryptocurrency briefly dropped to $65,000 on Saturday before recovering. Even with that rebound, Bitcoin is still below last week’s level of around $71,000. It is also down 47% from its all-time high of $126,198, which it reached last October.

The U.S.-Iran conflict continues to affect global markets. Iran has launched strikes on nearby Gulf countries, including Kuwait and Saudi Arabia, while peace talks remain stuck. The Crypto Fear and Greed Index currently stands at 9, which shows the market is still in extreme fear.