Bitcoin buyers might lastly be taking a break from promoting, relieving some downward strain on Bitcoin — although months of consolidation will doubtless lie forward, says analyst Willy Woo.
“This bearish sell-down by buyers appears to have exhausted,” said Woo on X on Friday. This provides the worth “a reprieve to consolidate sideways for perhaps a month,” or perhaps a rebound to the mid $70,000 degree, “which might doubtless be rejected,” he mentioned.
Bitcoin (BTC) costs have been range-bound between $60,000 and $70,000 for the previous three weeks, and fell beneath $67,000 briefly in late buying and selling on Thursday.
Woo mentioned his “educated guess” is that the fourth quarter can be “good timing for the top of the bearish development” and Q1 or Q2 2027 might even see bullish momentum return.
Within the meantime, the broader market is “closely bearish” with each spot and futures liquidity deteriorating. “I’ve by no means seen BTC rally when each sources of liquidity are bearish,” he added.
Analysts tip extra Bitcoin ache earlier than acquire
Issues might get a lot worse if international macroeconomic circumstances deteriorate, mentioned the analyst.
Bitcoin has solely ever existed in a “secular international macro bull market” from 2009 to 2026, he mentioned, cautioning that if “international macro breaks down,” then $30,000 is the fallback degree of help, $16,000 is the ultimate line to keep up a long-term bull development.
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Bitwise chief funding officer Matt Hougan echoed the sentiment in an X put up on Thursday, commenting on various recent conspiracies concerning market motion.
The actual cause Bitcoin is down is that “a bunch of people that have been lengthy Bitcoin offered their Bitcoin publicity,” he mentioned.
They offered due to the four-year cycle, due to quantum fears, and since they wished to put money into AI start-ups, and for different causes, he continued, including that the promoting strain is sort of over.
“They’re largely completed promoting, and we’re within the means of bottoming. We are going to set new all-time highs sooner or later. This can be a basic crypto winter, and there shall be a basic crypto spring.”
Months of sideways consolidation forward
Analysis lead at Bitrue, Andri Fauzan Adziima, instructed Cointelegraph that Bitcoin’s historic weekly RSI (relative power index) oversold studying “strongly confirms that aggressive promoting strain has peaked or is fading, a basic exhaustion sign behind the current bounce from its lows.”
This additionally helps the outlook for extended consolidation, he mentioned. “Anticipate extra sideways chop, repeated exams of $62,000 to $65,000 help, and range-bound motion within the $60,000 to $70,000 zone for weeks to months, until sustained ETF inflows or a macro risk-on shift present the catalyst to interrupt increased.”
In the meantime, Jeff Ko, chief analyst on the CoinEx alternate, instructed Cointelegraph that whereas current enhancements in spot ETF inflows counsel the aggressive promoting strain is easing, “a sudden V-shaped restoration is unlikely after a steep 50% drawdown.”
“We’re doubtless a protracted consolidation part inside a large structural vary, because the market takes three to 6 months to restore sentiment, paying homage to the sideways motion we noticed post-LUNA,”
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