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<p><strong>Bitcoin</strong><a href="https://yellow.com/asset/btc" rel="noopener noreferrer nofollow">(BTC)</a> remains trapped inside a descending channel that has guided its price for eight months, and the structure now points toward a <a href="https://yellow.com/news/bitcoin-funding-rate-bottom-signal-2022" rel="noopener noreferrer nofollow">possible bottom near $51,291</a>.</p>
<blockquote>
 <h2 id="key-points">Key Points:</h2>
 <ul>
  <li>Bitcoin has traded inside a descending channel since topping near $126,000 about eight months ago.</li>
  <li>A May rejection at $83,156 cut price by more than 12%, leaving it near $73,670 in June.</li>
  <li>Kalshi traders give Bitcoin a 60% chance of hitting $60,000 before reclaiming $100,000.</li>
 </ul>
</blockquote>
<h2 id="bitcoin-channel-keeps-its-grip">Bitcoin Channel Keeps Its Grip</h2>
<p>A technical read of the daily candlestick chart <a href="https://coinpedia.org/price-analysis/bitcoin-bottom-near-5-on-chain-signals-suggest-the-bitcoin-price-bottom/" rel="noopener noreferrer nofollow">tracks</a> a descending channel that has framed Bitcoin since it peaked near $126,000 about eight months ago.</p>
<p>Lower highs and lower lows have stacked up the entire time. Every stronger rally has stalled at the upper edge, while every deep sell-off has found buyers near the floor.</p>
<p>The first major rejection landed near $97,855, the second near $83,156, and both kept the bearish frame intact. The lower boundary has done its own work, drawing a bounce near $82,167 before price slid to roughly $60,000 in early Feb. 2026. Each touch of that diagonal has produced a sharp drop rather than a clean breakout.</p>
<p>That May rejection at $83,156 set the current tone. Bitcoin has fallen more than 12% since, started Jun. near $73,670, and now sits in the lower half of the channel where bears expect the final low. A close back above $78,000 would ease the pressure and challenge the channel's upper rail.</p>
<p><strong>Also Read:</strong><a href="https://yellow.com/news/four-ai-labs-incompatible-prompt-injection-metrics-study" rel="noopener noreferrer nofollow">Study Finds Four Major AI Labs Use Incompatible Prompt Injection Metrics</a></p>
<h2 id="kalshi-traders-brace-for-60-000">Kalshi Traders Brace For $60,000</h2>
<p>Prediction markets echo the chart. On <strong>Kalshi</strong>, traders now <a href="https://news.bitcoin.com/bitcoin-prediction-markets-show-84k-ceiling-as-traders-stack-bets-on-polymarket-kalshi-and-myriad/" rel="noopener noreferrer nofollow">give</a> Bitcoin a 60% chance of touching $60,000 before it reclaims $100,000. That puts more money on another leg down than on a quick six-figure recovery.</p>
<p>The same venue <a href="https://financefeeds.com/bitcoin-100k-odds-below-50/" rel="noopener noreferrer nofollow">priced</a> only a 34% chance of Bitcoin clearing $100,000 before Jan. 2027. At the start of 2026, that same market put a 94% probability on a move above $100,000 by midyear. Kalshi traders now <a href="https://u.today/bitcoin-unlikely-to-hit-100000-this-year-kalshi" rel="noopener noreferrer nofollow">doubt</a> a six-figure return arrives at all this year.</p>
<h2 id="btc-eyes-a-deeper-bottom">BTC Eyes A Deeper Bottom</h2>
<p>An analyst posting as <strong>NoName</strong> pins the channel's end near $51,291, a level he frames as the likely cycle bottom. Other technicians <a href="https://www.mexc.com/news/1116303" rel="noopener noreferrer nofollow">warn</a> the floor could print even lower, below $50,000. Either target would require Bitcoin to lose support zones it has so far defended.</p>
<p>Bitcoin's descent has been a grind, not a crash. After <a href="https://yellow.com/research/bitcoins-dollar126k-to-dollar80k-crash-inside-the-dollar1-trillion-crypto-market-collapse" rel="noopener noreferrer nofollow">topping near $126,000</a> last autumn, it bled lower through a run of failed rebounds and touched roughly $60,000 in Feb. The middle of the channel near $70,000 now stands as the line that decides whether <a href="https://yellow.com/news/saylor-bitcoin-floor-60000" rel="noopener noreferrer nofollow">$60,000 comes next</a>.</p>
<p><strong>Read Next:</strong><a href="https://yellow.com/news/durov-renames-toncoin-gram-coin-10" rel="noopener noreferrer nofollow">Durov Renames Toncoin To Gram, Coin Pops 10% On Roots Return</a></p>

Bitcoin Eyes A Fresh $60K Drop Before Any Run To Six Figures

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