Bitcoin Eyes Yearly Low as Mid-Size Inflows Drop

Bitcoin is drifting back to its 2026 low near $59,000 after a failed recovery left buyers unable to reclaim key resistance. The price broke below an ascending channel on the four-hour chart after sellers pushed it under the 50-day and 100-day exponential moving averages. Short-term support sits near $60,700, with the yearly low at $59,000.

Liquidation data shows about $4 billion in leveraged long positions concentrated near $59,000. A separate cluster of roughly $4.75 billion in positions is near $68,000. A move into the lower cluster could force liquidations of leveraged longs. The relative strength index is close to oversold levels and would likely fall below 30 if price tests the yearly low.

CryptoQuant analyst Amr Taha reported that inflows from mid-size Bitcoin holders declined on June 19 to the lowest readings since April 4. Binance recorded about 3,500 BTC in inflows, Coinbase about 3,000 BTC and Coinbase Prime roughly 1,700 BTC. Lower deposits to exchanges are commonly treated as reduced immediate selling pressure; they do not signal new buying demand on their own.

Trader Killa suggested Bitcoin might front-run the liquidity pool below $60,000 rather than fully sweep it. Trader LP cautioned against excessive bearishness and flagged the possibility of a bottom forming in late June.

Traders and analysts are monitoring whether the clustered leverage around $59,000 will trigger a cascade of liquidations or whether price will test that liquidity and stabilize before any move to the high $60,000 range.