Bitcoin analyst Willy Woo has expressed caution over the current Bitcoin rally, suggesting it may be a 'bull trap.' Despite strong on-chain and funding fundamentals, Woo noted that the recent price surge, driven by the futures market and short-term funds, could lead to volatility that wipes out leveraged positions. He highlighted that the price could test the 'mid-$80,000' level, aligning with the cost price for short-term holders. Woo further indicated that the overall bear market is only about one-third complete, and the current bottom structure has not yet formed. His analysis suggests that while fundamentals remain robust, the liquidity-driven nature of the rally could result in significant market fluctuations.