Bitcoin Traders Eye New Price Lows But Warn Against Being Too Bearish

Bitcoin is drifting back toward its yearly low near $59,000 after a failed recovery left bulls unable to reclaim key resistance. Traders now expect fresh 2026 lows as the price slides toward a major support zone, having stalled short of the daily fair-value gap between $67,500 and $70,500 while sellers reasserted control near the 50- and 100-day exponential moving averages.

Technically, the move pushed BTC below an ascending channel, marking a bearish break of structure on the four-hour chart. Internal liquidity support sits near $60,700, followed by the $59,000 yearly low. Liquidation data shows about $4 billion in leveraged long positions concentrated near $59,000, which could trigger forced selling and a downside liquidity sweep before any recovery toward the $68,000 area, where more than $4.75 billion in positions cluster.

Momentum indicators are nearing oversold levels; another push to yearly lows would likely drive the RSI below 30, a condition that can precede a sharp relief bounce after liquidations.

bitcoin, btc, bitcoin price, yearly low, fair-value gap, 50-day ema, 100-day ema, liquidation risk, rsi oversold, ascending channel