Selling Pressure Nears Exhaustion
According to renowned on-chain analyst Willy Woo, recent selling pressure in the Bitcoin market appears to be nearing exhaustion. He stated on social media platform X that bearish sentiment has largely been priced in, opening a potential consolidation window lasting approximately one month.
Over the past three weeks, Bitcoin has oscillated between $60,000 and $70,000, briefly dipping below the $67,000 psychological level during Thursday's after-hours trading. Nevertheless, Woo believes this correction may have already found crucial support zones.
Consolidation Ahead, Possible Rebound
Technically speaking, analysts note that a short-term rebound toward the $70,000 region remains possible. However, this level might present strong resistance. Market participants should expect sideways movement for months before genuine bullish momentum returns.
Deteriorating Market Liquidity
Notably, Woo emphasized that overall crypto market sentiment remains bearish. Both spot and futures market liquidity continue to deteriorate, creating headwinds for any sustained price rally.
- Bitcoin's selling phase appears complete
- $70,000 zone may act as resistance
- Liquidity issues压制bullish momentum
- Real turnaround possible in 2027
The analyst stressed that historically, Bitcoin has never sustained meaningful rallies during periods of simultaneous spot and futures liquidity deterioration, suggesting patience remains key for market participants.