(Revised) Bitcoin selling pressure enters exhaustion phase… “could trade sideways through Q4”

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An analysis suggests that selling pressure in the Bitcoin (BTC) market has largely been exhausted. Still, the outlook is that a range-bound pattern could persist for several months before a full-fledged shift to an uptrend.

Cointelegraph reported on the 27th (local time), citing comments from on-chain analyst Willy Woo, that investors’ bear-market selling has effectively entered its final stage. Woo said, “Bearish selling by investors appears to be largely exhausted,” adding, “It could move sideways for about the next month or rebound to the mid-$70,000s, but it’s likely to face resistance in that zone.”

Bitcoin has traded between $60,000 and $70,000 over the past three weeks, and at one point on the 26th it slipped below $67,000 intraday. The current price is around $67,827.

Woo pointed to Q4 2026 as the point when the bearish trend could end. He projected that “bullish momentum may resume in Q1 or Q2 2027.” However, he added that the chances of a sharp near-term rally are low given that liquidity is weakening across both spot and futures markets.

Macroeconomic variables were also flagged as risks. Woo said, “Bitcoin has only existed within a long-term global macro bull market environment since 2009,” and argued that “if the macro environment breaks down, $30,000 could be the first support level, and $16,000 could be the final line of defense for maintaining the long-term bullish trend.”

Bitwise Chief Investment Officer (CIO) Matt Hougan also agreed that selling pressure is close to being fully absorbed. He said, “The main reason for Bitcoin’s decline is that investors who held leveraged positions reduced their exposure,” explaining that “various factors were at play, including the four-year cycle narrative, concerns over quantum computers, and a shift toward investing in AI startups.” He added that “the market is now entering a bottoming phase and will break to new all-time highs again.”

Bitru research head Andri Fauzan Azima said that the weekly relative strength index (RSI) has entered oversold territory, indicating that “aggressive selling pressure has either passed its peak or is weakening.” He projected that, alongside a retest of support in the $62,000 to $65,000 range, Bitcoin could remain range-bound between $60,000 and $70,000 for several weeks to several months.

Jeff Ko, chief analyst at CoinEx, also said, “ETF inflows are improving, but an immediate V-shaped rebound after a 50% plunge will be difficult,” adding, “A sentiment-recovery phase of about 3 to 6 months is needed.”