Analyst Willy Woo has indicated that on-chain models suggest Bitcoin's bottom range is expected to be between $46,000 and $54,000. The CVDD Floor Model currently estimates a floor of approximately $45,500, which is rising over time. Woo noted that the orange line in the model shows a continuous outflow of stored Bitcoin capital since November. The model is based on historical behavior and covers the previous four bear markets, all occurring during long-term bull markets for risk assets. Woo cautioned that if this underlying condition changes, the market could enter an undefined deeper bear market phase.