Willy Woo: Bitcoin may end the bear market in the fourth quarter, with $45,000 being a typical bear market bottom

Renowned analyst Willy Woo stated, "This round of investor-led bearish sell-off seems to be nearing its end, which brings some breathing room for prices and may lead to about a month of sideways consolidation, or even a rebound to the mid-$70,000 range, but this level is likely to face resistance. The reason is that the broader market environment remains clearly bearish, with both spot and futures liquidity deteriorating.

I have never seen Bitcoin sustain an upward trend when both spot and futures liquidity are weakening. If a relatively rational judgment is to be made, I believe the fourth quarter may be a better time window for the end of this bear market trend, while true bullish momentum may return in the first or second quarter of 2027. Around $45,000 is a typical bear market bottom range.

From 2009 to 2026, Bitcoin has always been in a global macro long-term bull market environment. If a structural break occurs in the global macro environment, then $30,000 will become the next support level, while $16,000 will be the last line of defense to maintain Bitcoin's long-term bull market trend."