Bitcoin’s recent wave of investor selling appears to be nearing exhaustion, potentially easing downward pressure but leaving the market facing months of sideways consolidation, according to analyst Willy Woo.
“This bearish sell-down by investors seems to have exhausted,”
Said crypto analyst Willy Woo, adding that the price may see “a reprieve to consolidate sideways for maybe a month,” with any rebound towards the mid-$70,000 level likely to be rejected.
Woo said his “educated guess” is that the fourth quarter would be “good timing for the end of the bearish trend” while Q1 or Q2 2027 may mark the return of sustained bullish momentum.
Bitcoin has traded between $60,000 and $70,000 for the past three weeks and briefly dipped below $67,000 in late trading on Thursday, with Woo warning that the broader market remains “heavily bearish” as both spot and futures liquidity deteriorate.
“I’ve never seen BTC rally when both sources of liquidity are bearish,”
Woo said, cautioning that if global macro conditions break down, $30,000 represents a key fallback support level and $16,000 the final line for preserving a long-term bull trend.
Bitwise chief investment officer Matt Hougan said the recent weakness reflects investors unwinding long exposure, stating:
“They are mostly done selling, and we are in the process of bottoming,”
While predicting that “we will set new all-time highs in the future” in what he described as “a classic crypto winter.”
Research lead at Bitrue Andri Fauzan Adziima said Bitcoin’s historically oversold weekly RSI reading signals that aggressive selling pressure is fading and supports expectations for prolonged range-bound trading between $60,000 and $70,000 for weeks to months, while CoinEx chief analyst Jeff Ko added that:
“A sudden V-shaped recovery is unlikely after a steep 50% drawdown,”
Pointing instead to a three- to six-month consolidation phase reminiscent of the post-LUNA period.
At the time of reporting, Bitcoin price was $67,655.53.