BTC's current selling pressure may have temporarily eased, and the bear market could extend until 2027.

On-chain and liquidity models indicate that the selling pressure from Bitcoin investors seems to have been largely released.
The price may consolidate over the next approximately month,
or even rebound to the mid-$70,000 range but is likely to face resistance.
Currently, both spot and futures liquidity are biased bearish,
and we've never seen a sustained rally when both sides of liquidity are simultaneously bearish;
this "educational projection" suggests that the current bear market trend may end in Q4 of this year,
and the real bullish momentum might not return until Q1 or Q2 of 2027.
The typical bear market bottom range is around $45,000,
and if the global macro environment weakens significantly,
then $30,000 and $16,000 serve as key support levels and the last line of defense to maintain a long-term bull market structure.
Around $45,000 is a typical bear market bottom.
Bitcoin only exists within the global macro bull market from 2009 to 2026. If the global macroeconomic collapse occurs, then $30,000 will be the support level, and $16,000 will be the final bottom to sustain Bitcoin's bull trend.
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