Bitcoin investors could finally be taking a break from selling, relieving some downward pressure on Bitcoin — though months of consolidation will likely lie ahead, says analyst Willy Woo.
“This bearish sell-down by investors seems to have exhausted,” said Woo on X on Friday. This gives the price “a reprieve to consolidate sideways for maybe a month,” or even a rebound to the mid $70,000 level, “which would likely be rejected,” he said.
Bitcoin (BTC) prices have been range-bound between $60,000 and $70,000 for the past three weeks, and fell below $67,000 briefly in late trading on Thursday.
Woo said his “educated guess” is that the fourth quarter would be “good timing for the end of the bearish trend” and Q1 or Q2 2027 may see bullish momentum return.
In the meantime, the broader market is “heavily bearish” with both spot and futures liquidity deteriorating. “I’ve never seen BTC rally when both sources of liquidity are bearish,” he added.
Bitcoin Flow Model suggests selling pressure has eased. Source: Willy Woo
Analysts tip more Bitcoin pain before gain
Things could get much worse if global macroeconomic conditions deteriorate, said the analyst.
Bitcoin has only ever existed in a “secular global macro bull market” from 2009 to 2026, he said, cautioning that if “global macro breaks down,” then $30,000 is the fallback level of support, $16,000 is the final line to maintain a long-term bull trend.
Related: Analysts reject Jane Street ‘10 a.m. dump’ claims, say Bitcoin isn’t easily manipulated
Bitwise chief investment officer Matt Hougan echoed the sentiment in an X post on Thursday, commenting on various recent conspiracies regarding market action.
The real reason Bitcoin is down is that “a bunch of people who were long Bitcoin sold their Bitcoin exposure,” he said.
They sold because of the four-year cycle, because of quantum fears, and because they wanted to invest in AI start-ups, and for other reasons, he continued, adding that the selling pressure is almost over.
“They are mostly done selling, and we are in the process of bottoming. We will set new all-time…..
