Bitcoin (BTC) is once again approaching its yearly low near $59,000 after a failed recovery attempt left bulls unable to reclaim key resistance levels. BTC traders are now anticipating new lows for 2026 as the price drifts back toward a major support zone.
However, exchange inflows from mid-sized investors across Binance and Coinbase recently dropped to their lowest levels since April 4, easing further selling pressure.
Liquidation data also shows more than $4 billion in leveraged positions concentrated near the $59,000 level, a setup that may lead to a downside liquidity sweep before a recovery rally towards the $68,000 range.
Bitcoin traders target liquidity pocket below $59,000
Bitcoin’s recovery attempt stalled before reaching the daily fair-value gap between $67,500 and $70,500. The sellers regained control near the 50-day and 100-day exponential moving averages, which continue to act as overhead resistance.
The rejection pushed BTC below an ascending channel, confirming a bearish break of structure on the four-hour chart. The price is currently trading below the channel range, with internal liquidity support near $60,700 as the next area of interest, followed by the yearly low at $59,000.
BTC/USD, four-hour chart. Source: Cointelegraph/TradingView
The liquidation data adds weight to that zone. Around $4 billion in cumulative leveraged long positions is concentrated near $59,000. A move into that area could trigger forced selling and flush out late long positions. Beyond that level, the next major liquidity concentration is near $68,000, where more than $4.75 billion in cumulative positions are clustered.
The momentum conditions are also approaching an extreme. The relative strength index (RSI) is hovering near oversold territory. Another push toward yearly lows would likely drive the indicator below 30, a level that may precede a sharp relief bounce after liquidations.
Crypto analyst Killa said Bitcoin could still front-run the liquidity pool below $60,000 rather than fully sweeping it. The trader argued that markets often move in the opposite direction of levels that attract widespread attention, similar to how Bitcoin front-ran liquidity above $140,000 in October 2025.Â
BTC trader LP also warned against becoming “too bearish here” in the short term, pointing to a potential bottom forming toward late June.
BTC/USD, one-day chart analysis by LP. Source: X
Related: Bitcoin’s deeply discounted versus AI-stocks, but hawkish Fed risk lingers: Bitwise
BTC exchange inflows continue to decline
According to CryptoQuant analyst Amr Taha, inflows from mid-sized Bitcoin investors declined simultaneously across Binance, Coinbase, and Coinbase Prime on June 19. Binance recorded roughly 3,500 BTC in inflows, Coinbase nearly 3,000 BTC, and Coinbase Prime about 1,700 BTC, the lowest readings since April 4.
BTC exchange inflow structure by mid-size investors. Source: CryptoQuant
Exchange inflows are commonly tracked as a measure of potential selling intent. Lower deposits mean fewer coins are being positioned for immediate sale. This indicates one source of near-term sell pressure has eased.
The trend does not signal new demand on its own. It shows that mid-sized holders are reducing transfers to trading venues as Bitcoin trades near $62,000. For now, the flow data points to lighter exchange-side pressure even as price tests a major liquidity concentration near yearly lows.
Related: Bitcoin tipped for Q3 ‘macro bottom’ near $50K as major liquidity grab looms
