Bitcoin Selling Pressure Nears Exhaustion as Analysts Predict Sideways Phase

Bitcoin’s recent wave of selling may be approaching exhaustion, according to market analyst Willy Woo, who believes the worst of the bearish momentum could be fading. After weeks of range-bound movement between $60,000 and $70,000, Bitcoin briefly slipped below $67,000 before stabilizing.

Woo suggests the market may enter a period of sideways consolidation lasting several weeks. While a short-term rebound toward the mid-$70,000 range is possible, he cautions that such a move could face strong resistance. In his view, a more meaningful trend reversal may not materialize until the fourth quarter, with broader bullish momentum potentially returning in early 2027.

Liquidity Conditions and Market Sentiment Remain Weak

Despite easing sell pressure, overall market conditions remain fragile. Woo notes that both spot and futures liquidity have deteriorated, a combination that historically limits upside potential. He also warns that worsening macroeconomic conditions could push Bitcoin toward deeper support levels, including $30,000, with $16,000 seen as a long-term structural floor.

Meanwhile, Matt Hougan of Bitwise Asset Management argues that much of the decline stems from cyclical investor behavior rather than structural weakness. He describes the current phase as a typical crypto winter, suggesting that after a prolonged consolidation period, new highs remain possible in the future.

Disclaimer

This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.