On-chain analyst Willy Woo believes Bitcoin investors may finally be done with aggressive selling, potentially easing downward pressure on Bitcoin. After weeks of range-bound movement between $60,000 and $70,000, Woo suggested the recent bearish wave appears “exhausted,” giving price action room to consolidate sideways for a month — or even attempt a rebound toward the mid-$70,000s, though he expects any sharp bounce to face rejection.

Despite this temporary relief, Woo cautioned that broader liquidity conditions remain weak across both spot and futures markets. He noted he has “never seen BTC rally when both sources of liquidity are bearish.” His base case sees the bearish trend potentially ending in Q4, with stronger bullish momentum possibly returning in Q1 or Q2 of 2027 — signaling patience may be required before the next major breakout.