Bitcoin price risks drop to $60,000 as bearish market structure holds

Bitcoin price remains under pressure after rejection at range mid resistance near $68,000, increasing the probability of a corrective move toward $60,000 support.

Bitcoin price remains under pressure after rejection at range mid-resistance near $68,000, increasing the probability of a corrective move toward $60,000 support.

Bitcoin (BTC) price action continues to show signs of structural weakness following a rejection from the midrange, reinforcing the ongoing bearish market environment. After attempting to stabilize within the broader range, Bitcoin failed to reclaim a key resistance region near the point of control (POC) around $68,000, a level that has repeatedly dictated market direction.

The recent rejection highlights fragile price conditions, with sellers maintaining control across lower timeframes. Instead of transitioning into an upside expansion, Bitcoin has begun rotating lower within the established trading range, increasing the probability of a move toward the range low support near $60,000, where the yearly low currently sits.

From a broader perspective, Bitcoin remains locked within a corrective phase rather than a confirmed recovery trend, with technical signals favoring downside continuation unless key resistance levels are reclaimed.

Bitcoin price key technical points

• Range mid resistance at $68,000 holding firm: Price continues to reject the point of control zone
• Weak bounce lacking volume confirmation: Buying pressure remains insufficient to reverse structure
• $60,000 range low support in focus: Next major downside target aligned with yearly support

The most important technical development in recent price action is Bitcoin’s inability to hold above the range mid-resistance. This area, located around $68,000, represents the point of control where the majority of recent trading volume has occurred. Acceptance above this level would have signaled a shift toward bullish continuation, but the rejection instead confirms ongoing distribution.

Following the rejection, Bitcoin established another local low near the value area low, reinforcing the bearish internal structure. Markets often trend through a sequence of lower highs and lower lows when sellers maintain dominance, and Bitcoin’s current behavior aligns with this pattern.

Although price managed to produce a short-term bounce after tapping liquidity below recent lows, the recovery lacked strong volume participation. Without a meaningful buying influx, relief rallies tend to act as temporary pauses rather than genuine reversals. This lack of conviction suggests that market participants remain hesitant to aggressively accumulate at current levels.

Liquidity sweep fails to trigger a strong reversal

Bitcoin recently tapped into resting liquidity near the lower boundary of value, a move that typically attracts buyers seeking discounted entries. However, the reaction following this liquidity sweep has been relatively muted. Instead of aggressive bullish expansion, price has continued to compress beneath resistance.

This behaviour indicates that the market may still be in a redistribution phase, where price rotates lower to locate stronger demand. When liquidity grabs fail to produce impulsive upside momentum, it often signals that deeper support levels remain unfinished targets.

As long as Bitcoin continues trading below the $68,000 range mid-resistance, sellers retain structural control. Each failed attempt to reclaim this level increases the likelihood of further downside exploration.

$60,000 range low emerges as key magnet

Technically, the next logical destination for price sits near the range low support at $60,000. This area represents a significant high-timeframe level, aligning with the yearly low and serving as a major liquidity pool within the broader range structure.

Markets frequently rotate between range extremes when equilibrium cannot be established at the midpoint. Given Bitcoin’s continued rejection at range mid and weakening momentum signals, a move toward range low support becomes statistically more probable.

The $60,000 level is expected to act as a major decision zone. Should price reach this region, traders will closely monitor whether buyers step in to defend support or if acceptance below opens the door for a deeper corrective phase.

What to expect in the coming price action

From a technical, price action, and market structure perspective, Bitcoin remains bearish while trading below the $68,000 range mid-resistance. Unless price reclaims and holds above this level, the probability favors continued downside rotation toward $60,000 support.

Short-term bounces may occur, but they are likely to remain corrective until bullish volume returns and structural resistance is decisively reclaimed.