Crypto: Crypto Analyst Says Bitcoin Selling Pressure Is Nearly Exhausted

Bitcoin has been given some reprieve to trade sideways for a few weeks, but it won't likely emerge from the woods until the fourth quarter, says crypto analyst Willy Woo.

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.

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.

Source: CoinTelegraph