Bitcoin Selling Pressure Eases but Further Weakness Likely Ahead, Analysts Say
Date: 26 February 2026
Source: Cointelegraph
Market snapshot
For the past three weeks Bitcoin (BTC) has been trading in a tight band between the $60 000 and $70 000 marks. The price slipped below $67 000 in late trade on Thursday, but the dip was short‑lived and the cryptocurrency quickly regained ground. Overall volatility has remained muted as the market appears to be seeking a new equilibrium after a steep 50 % drawdown from its recent highs.
Selling pressure shows signs of fatigue
On Friday, on‑chain analyst Willy Woo posted on X that the recent wave of sell‑downs looks exhausted. He noted that this relief could give Bitcoin a brief window—perhaps a month—of sideways consolidation, with a possible bounce toward the mid‑$70 000 region. Woo cautioned, however, that any move back into that area would likely face resistance.
The easing of pressure is also reflected in the Bitcoin Flow Model, which indicates a reduction in net outflows from both spot and futures markets. Nevertheless, Woo stressed that the broader ecosystem remains “heavily bearish” because liquidity on both fronts is still deteriorating—a scenario he has not observed accompanying a genuine rally.
Mixed outlook from the analyst community
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Matt Hougan, Chief Investment Officer at Bitwise, echoed concerns about lingering bearish sentiment. In an X post, he attributed the recent sell‑off to long‑term holders exiting positions, driven by the four‑year cycle, fears surrounding quantum computing, and a shift of capital toward AI startups. Hougan believes the current downturn is largely a “classic crypto winter” that may later transition into a “crypto spring,” but he warns that the next support tier could be around $30 000 if macro conditions worsen, with $16 000 as the ultimate floor for a long‑term bull market.
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Andri Fauzan Adziima, Research Lead at Bitrue, highlighted that Bitcoin’s weekly Relative Strength Index (RSI) is in oversold territory, a classic exhaustion signal. He expects the price to continue testing the $62 000–$65 000 support zone and remain range‑bound within the $60 000–$70 000 corridor for weeks to months, unless sustained inflows from spot ETFs or a broader macro risk‑on shift provide fresh impetus.
- Jeff Ko, Chief Analyst at CoinEx, agreed that spot ETF inflows have softened the immediate selling pressure but warned against anticipating a rapid V‑shaped recovery. He likened the upcoming period to the post‑LUNA sideways phase, suggesting a consolidation window of three to six months as market sentiment rebuilds.
Macro backdrop
Woo underscored that Bitcoin has only ever thrived within a “secular global macro bull market” stretching from its inception in 2009 up to the present. A breakdown in global macro stability could push the cryptocurrency toward the $30 000 support level. Until such a scenario materializes, the prevailing market dynamics are likely to keep the price confined to its current range.
Key takeaways
| Point | Implication |
|---|---|
| Selling pressure is weakening | On‑chain data and RSI suggest that the most aggressive sell‑offs are behind us. |
| Sideways consolidation expected | Most analysts forecast a prolonged range‑bound phase between $60 000 and $70 000, with repeated tests of $62 000–$65 000 support. |
| Potential short‑term bounce | A rebound to the mid‑$70 000s is possible but faces likely rejection without catalyst. |
| Macro risk remains a wildcard | Deteriorating global economic conditions could drive Bitcoin down to $30 000 or lower. |
| ETF inflows could be decisive | Sustained capital inflows from spot exchange‑traded funds would be the most plausible trigger for a breakout upward. |
Outlook
While the immediate exhaustion of selling pressure offers a brief reprieve, the consensus among market observers is that Bitcoin is poised for a period of low‑volatility, range‑bound trading. The price may flirt with higher levels but is expected to encounter resistance unless external drivers—such as robust ETF inflows or a shift toward risk‑on macro sentiment—reignite buying interest. In the longer term, analysts remain divided: some see the fourth quarter of 2026 as a potential turning point, while others caution that significant macro headwinds could still force the market into deeper correction.
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Source: https://cointelegraph.com/news/bearish-bitcoin-selloff-by-investors-is-exhausted-analysts?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
