Bitcoin’s recent selling pressure appears to have cooled, offering the market a temporary breather, but analysts warn an extended period of sideways trading may follow. On X, analyst Willy Woo said the wave of investor selling “seems to have exhausted,” creating room for the price to consolidate sideways for perhaps a month or to briefly rally into the mid-$70,000s — a move he thinks would likely be rejected.
BTC has traded in a roughly $60,000–$70,000 range for the past three weeks and slipped below $67,000 in late trading. Woo tentatively projects the bearish phase could end in the fourth quarter, with bullish momentum returning in Q1 or Q2 2027. He cautioned, however, that the broader market remains “heavily bearish” as liquidity in both spot and futures markets has deteriorated: “I’ve never seen BTC rally when both sources of liquidity are bearish.”
Analysts say macroeconomic deterioration could cause deeper drawdowns. Woo noted that Bitcoin’s history to date has unfolded inside a secular global macro bull market from 2009 through 2026; if that backdrop reverses, he identifies roughly $30,000 as a fallback support level and about $16,000 as a final threshold to preserve the long-term bull case.
Bitwise CIO Matt Hougan similarly attributed much of the recent decline to long-term holders selling. He pointed to the four-year cycle, concerns about quantum computing, and capital flowing into AI startups as reasons for that selling, but said the bulk of it is likely over. Hougan described the market as bottoming and predicted new all-time highs in time, calling the phase a “classic crypto winter” that will be followed by a “classic crypto spring.”
Andri Fauzan Adziima, research lead at Bitrue, noted that weekly RSI readings indicate oversold conditions, which he interprets as a sign that aggressive selling has peaked or is fading. He expects extended, choppy consolidation: repeated tests of $62,000–$65,000 support and continued range-bound action in the $60,000–$70,000 band for weeks to months unless steady ETF inflows or a macro risk-on shift provide a catalyst to push prices higher.
Jeff Ko, chief analyst at CoinEx, added that while improving spot ETF inflows imply selling pressure has eased, a sharp V-shaped recovery is unlikely following a steep ~50% drawdown. He anticipates a prolonged consolidation phase — roughly three to six months — as sentiment repairs, comparing the setup to the sideways action seen after the LUNA collapse.
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