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 returns to a major support zone.
However, currency inflows from mid-sized investors into Binance and Coinbase recently fell to their lowest levels since April 4, easing further selling pressure.
The liquidation data also shows more than $4 billion in leveraged positions concentrated near the $59,000 level, a setup that may lead to a drop in liquidity before a recovery 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. Sellers regained control near the 50- and 100-day exponential moving averages, which continue to act as overhead resistance.
The rejection pushed BTC below an ascending channel, confirming a bearish breakout of the 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 of $59,000.
BTC/USD, four-hour chart. Fountain: Cointelegraph/TradingView
The settlement data adds weight to that area. Around $4 billion in accumulated leveraged long positions are concentrated near $59,000. A move towards that zone could trigger forced selling and eliminate late long positions. Beyond that level, the next major concentration of liquidity is near $68,000, where more than $4.75 billion in accumulated positions are pooled.
Momentum conditions are also approaching an extreme. The Relative Strength Index (RSI) is hovering in oversold territory. Another push towards yearly lows would likely take the indicator below 30, a level that may precede a strong relief bounce after the sell-offs.
Killa, cryptanalyst saying Bitcoin could still lead the liquidity pool below $60,000 instead of obliterating it completely. The trader argued that markets often move in the opposite direction to levels that attract widespread attention, similar to how Bitcoin advanced liquidity above $140,000 in October 2025.
BTC LP Trader Too warned against becoming “too bearish here” in the near term, pointing to a possible bottom forming towards the end of June.
BTC/USD, LP one-day chart analysis. Fountain:
Related: Bitcoin Stocks Deeply Discounted to AI, But Fed’s Hardline Risk Remains: Bit by Bit
BTC Forex Inflows Continue to Decline
According to CryptoQuant analyst Amr Taha, inflows from medium-sized Bitcoin investors simultaneously decreased on Binance, Coinbase, and Coinbase Prime on June 19. Binance recorded about 3,500 BTC in inflows, Coinbase almost 3,000 BTC and Coinbase Prime around 1,700 BTC, the lowest readings since April 4.
BTC currency entry structure by medium investors. Source: CryptoQuant
Currency inflows are typically tracked as a measure of potential selling intent. Lower deposits mean fewer coins are placed for immediate sale. This indicates that a source of short-term selling pressure has diminished.
The trend alone does not indicate new demand. It shows that medium holders are reducing transfers to trading venues as Bitcoin trades near $62,000. For now, the flow data points to lower exchange rate pressure even when prices show a significant concentration of liquidity near their annual minimums.
Related: Bitcoin Leaning for Q3 ‘Macro Bottom’ Near $50,000 as Major Liquidity Grab Looms
