Willy Woo: Bitcoin is entering a consolidation phase, a correction and Sideways may be needed before the next breakout. According to BlockBeats news on July 31, encryption analyst Willy Woo tweeted, "July marks the transition of Bitcoin from a trend pump 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 consolidation before the next breakout attempt."