Is the Bitcoin Sell-Off That Weighed on Prices Over? When Willy Woo Predicts the Real Rebound

▲ Bitcoin (BTC) ©

After enduring a steep plunge of nearly 50%, analysts now suggest that Bitcoin’s (BTC) brutal wave of sell-offs has finally hit bottom, signaling that the long crypto winter may be nearing its end.

According to investment-focused outlet FXStreet on February 27 (local time), prominent cryptocurrency analyst Willy Woo stated on social media platform X that the bearish sell-off pressure from investors has effectively been exhausted. He projected that Bitcoin prices could consolidate for about a month or stage a temporary rebound to the mid-$70,000 range, though they are likely to face significant selling resistance. He identified the return of full-fledged bullish momentum as likely occurring after the end of this year’s bearish phase, pointing to the first or second quarter of 2027.

Woo explained that liquidity in both the spot and futures markets has deteriorated, creating a broadly bearish market environment. In a worst-case scenario involving macroeconomic collapse, he warned that $30,000 would serve as the first line of defense, while $16,000 would represent the final critical level for maintaining the long-term bullish trend. Matt Hougan, Chief Investment Officer at asset manager Bitwise, also agreed that the recent wave of selling is nearly over and expressed a positive outlook on the market. He noted that long-term investors had taken profits for various reasons, including the four-year cycle, fears of quantum computing hacks, and investments in AI startups. He emphasized that after a typical crypto winter passes and a bottom is established, a spring marked by new all-time highs will follow.

Technical indicators are also supporting the bottoming and consolidation scenario. Andrzej Paufal Azima, Head of Research at Bitrue, analyzed that Bitcoin’s weekly Relative Strength Index (RSI) reaching a record oversold level is a clear signal of exhaustion, indicating that aggressive selling pressure has peaked and begun to weaken. He predicted that unless sustained inflows into spot Bitcoin ETFs continue or macroeconomic risk appetite revives, Bitcoin could remain trapped in a narrow range between $60,000 and $70,000 for several weeks to months, repeatedly testing support levels between $62,000 and $65,000.

Jeff Ko, Senior Analyst at CoinEx, also noted that while improving inflows into spot Bitcoin ETFs are easing selling pressure, the likelihood of a dramatic V-shaped rebound immediately following such a sharp crash remains low. He advised that, similar to the sluggish market conditions following the Terra-Luna collapse, it may require at least three to six months of prolonged and painful consolidation within a broad structural range to fully restore damaged investor sentiment.

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