Bitcoin's Downward Pressure Nearing Depletion, Crypto Expert Reports
Cryptocurrency expert Willy Woo indicates that Bitcoin may experience sideways movement over the coming weeks, though a complete recovery isn't expected before Q4, providing temporary relief from recent selling.
Those holding Bitcoin might finally be experiencing a pause in their selling activity, which is easing some of the downward pressure on the cryptocurrency — although several months of market consolidation appears to be on the horizon, according to 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.
The price of Bitcoin (BTC) has remained confined within a range spanning $60,000 to $70,000 over the last three weeks, dropping beneath the $67,000 mark momentarily during late Thursday trading.
According to Woo, his "educated guess" suggests the fourth quarter would represent "good timing for the end of the bearish trend" while Q1 or Q2 2027 may see bullish momentum return.
For the time being, market conditions remain "heavily bearish" with deterioration occurring in both spot and futures liquidity levels. "I've never seen BTC rally when both sources of liquidity are bearish," he added.
Market Experts Predict Additional Bitcoin Struggles Before Recovery
The situation could deteriorate significantly further should worldwide macroeconomic circumstances worsen, warned the analyst.
Since its inception, Bitcoin has only existed within a "secular global macro bull market" spanning from 2009 to 2026, he noted, warning that should "global macro breaks down," the $30,000 level represents the fallback support, while $16,000 marks the final line to maintain a long-term bull trend.
Matt Hougan, chief investment officer at Bitwise, shared similar views in an X post published on Thursday, addressing various recent conspiracy theories surrounding market movements.
The actual explanation for Bitcoin's decline is simply that "a bunch of people who were long Bitcoin sold their Bitcoin exposure," he said.
Their decision to sell was driven by the four-year cycle, quantum computing concerns, the desire to allocate funds to AI start-ups, and various other factors, he elaborated, noting that selling pressure is nearly concluded.
"They are mostly done selling, and we are in the process of bottoming. We will set new all-time highs in the future. This is a classic crypto winter, and there will be a classic crypto spring."
Extended Period of Sideways Movement Expected
Andri Fauzan Adziima, research lead at Bitrue, informed Cointelegraph that Bitcoin's historical weekly RSI (relative strength index) oversold reading "strongly confirms that aggressive selling pressure has peaked or is fading, a classic exhaustion signal behind the recent bounce from its lows."
This reading also reinforces the forecast for extended consolidation, he indicated. "Expect more sideways chop, repeated tests of $62,000 to $65,000 support, and range-bound action in the $60,000 to $70,000 zone for weeks to months, unless sustained ETF inflows or a macro risk-on shift provide the catalyst to break higher."
At the same time, Jeff Ko, chief analyst at the CoinEx exchange, shared with Cointelegraph that although recent enhancements in spot ETF inflows indicate the aggressive selling pressure is easing, "a sudden V-shaped recovery is unlikely after a steep 50% drawdown."
"We are likely looking at a prolonged consolidation phase within a wide structural range, as the market takes 3 to 6 months to repair sentiment, reminiscent of the sideways action we saw post-LUNA."