Bitcoin enters phase of exhausted selling pressure… “Rangebound trading possible through Q4”

An analysis suggests that selling pressure in the Bitcoin (BTC) market has largely been exhausted. Still, the outlook is that it could remain rangebound for several months before a full-fledged shift into an uptrend.

Cointelegraph, citing comments from on-chain analyst Willy Woo on the 27th (local time), reported that investors’ sell-offs during the downtrend have effectively reached the final stage. Woo said, “Bearish selling from investors appears largely exhausted,” adding, “It could trade sideways for about the next month or rebound to the mid-$70,000s, but it is 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 intraday on the 26th fell below $67,000. It is currently around $67,827.

Woo pointed to Q4 2026 as the end point of the bearish trend. He forecast that “bullish momentum could restart in Q1 or Q2 2027.” He added that the likelihood of a sharp near-term rally is low because liquidity in both the spot and futures markets is weakening at this stage.

Macroeconomic factors were also cited as a risk. Woo said, “Bitcoin has existed only within a long-term global macro bull-market environment since 2009,” and argued that “if the macro backdrop breaks down, $30,000 could be the first support level, while $16,000 could be the final line of defense needed to maintain the long-term bullish trend.”

Matt Hougan, chief investment officer (CIO) at Bitwise, also agreed that selling pressure is close to being finished. He said, “The main reason for Bitcoin’s decline is that investors who held leveraged positions reduced their exposure,” explaining that “a range of factors played a role, including the four-year cycle narrative, quantum-computing concerns, and a shift toward investment in AI startups.” He went on to project that “we are now entering a bottoming phase and will set a new all-time high again in the future.”

Andri Fauzan Azima, head of research at Bitru, said that the weekly relative strength index (RSI) has entered oversold territory, arguing that “aggressive selling pressure has either passed its peak or is weakening.” He predicted that, along with a retest of support in the $62,000 to $65,000 zone, rangebound trading between $60,000 and $70,000 could continue for several weeks to several months.

Jeff Ko, senior analyst at CoinEx, also said, “ETF inflows have been improving recently, but an immediate V-shaped rebound after a 50% plunge will be difficult,” adding, “A three- to six-month period is needed for sentiment to recover.”