Bitcoin (BTC) is once again approaching yearly lows near $59,000 after a failed recovery attempt that left bulls unable to reclaim key resistance levels. BTC traders are currently expecting novel lows in 2026 as the price begins to move back towards the major support zone.
However, stock inflows from midstream traders in Binance and Coinbase recently fell to their lowest level since April 4, reducing further selling pressure.
Liquidation data also shows more than $4 billion in leveraged positions concentrated near the $59,000 level, which could lead to a acute decline in liquidity before a recovery picks up toward the $68,000 range.
Bitcoin traders are targeting a liquidity portfolio below $59,000
Bitcoin’s attempt to regain value stalled before reaching a daily fair value gap of between $67,500 and $70,500. Sellers have regained control near the 50-day and 100-day exponential moving averages, which continue to act as overall resistance.
The rejection pushed BTC below the ascending channel, confirming a bearish structure break on the four-hour chart. The price is currently below the channel range and the next area of interest is internal liquidity support near $60,700, followed by a yearly low at $59,000.
BTC/USD, four-hour chart. Source: Cointelegraph/TradingView
Decommissioning data adds weight to this zone. About $4 billion in cumulative leveraged long positions is concentrated around $59,000. A move into this area could trigger forced selling and washout of delayed long positions. Above this level, the next major liquidity concentration is near $68,000, where over $4.75 billion is concentrated in cumulative positions.
Momentum conditions are also approaching extremes. The Relative Strength Index (RSI) is hovering near the oversold area. Another push toward yearly lows would likely bring the index below 30, a level that could precede a acute rebound following liquidations.
Killa cryptocurrency analyst he said Bitcoin could still lead the sub-$60,000 liquidity pool rather than wipe it out completely. The trader argued that markets often move in the opposite direction of levels that attract widespread attention, similar to how Bitcoin liquidity exceeded $140,000 in October 2025.
BTC Trader also LP warned to avoid becoming “too bearish” in the brief term, pointing to a potential bottom peaking in delayed June.
BTC/USD, 1-day chart analysis by LP. Source: X
Related: Bitcoin Stocks Deeply Overvalued Compared to AI Stocks, But Hawkish Fed Risks Persist: Bitwise
BTC inflows from BTC exchanges continue to decline
According to CryptoQuant analyst Amr Taha, on June 19, inflows from medium-sized Bitcoin investors dropped simultaneously on Binance, Coinbase, and Coinbase Prime. recorded around 3,500 BTC flowed in, Coinbase almost 3,000 BTC, and Coinbase Prime around 1,700 BTC, which is the lowest reading since April 4.
BTC exchange inflow structure according to medium-sized investors. Source: CryptoQuant
Trade-in proceeds are commonly tracked as a measure of potential selling intent. Lower deposits mean fewer coins are put up for immediate sale. This means that one source of short-term selling pressure has subsided.
The trend itself does not signal novel demand. It shows that mid-sized holders are limiting transfers to trading venues as Bitcoin trades near $62,000. For now, flow data points to less pressure on the currency side, even as the price tests high concentrations of liquidity near yearly lows.
Related: Bitcoin Hits ‘Macro Flood’ Near 50K in Q3 dollars due to the impending grave liquidity crisis
