Willy Woo: Bitcoin May Have Ended Bear Market as of Q4, $45K Typical Bear Market Bottom

February 27 — Renowned analyst Willy Woo said this round of investor-driven bearish selling looks to be winding down, giving Bitcoin some price breathing room. It could enter a roughly one-month sideways consolidation phase, or rebound to the mid-$70,000s — but that level will likely face resistance. The broader market backdrop remains deeply bearish, with both spot and derivatives liquidity worsening. “I’ve never seen Bitcoin hold an uptrend when both spot and derivatives liquidity are weakening at the same time,” he noted. For a fairly rational call, Woo believes the fourth quarter could be a better window for this bear market trend to end, while actual bullish momentum could return in Q1 or Q2 2027. The ~$45,000 level is a typical bear market bottom range. Bitcoin has been in a long-term global macro bull market from 2009 through 2026. Should a structural breakdown hit that macro backdrop, $30k will be the next support level, and $16k will be the final defense line to keep Bitcoin’s long-term bull trend intact.