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Willy Woo: Bitcoin has entered a consolidation period, and a correction and sideways movement may be needed before the next breakout.
BlockBeats news, on July 31, encryption analyst Willy Woo tweeted that "July marks the transition of Bitcoin from a trend rise to a consolidation phase. Speculative sentiment is high and profit-taking behavior is suppressing market momentum, indicating that Bitcoin may need a correction or a period of sideways movement before the next round of breakout attempts."