Bitcoin’s recovery attempts are still being judged against a larger structure 
that has controlled price action for months. An interesting technical analysis 
of the daily candlestick timeframe chart shows that Bitcoin is still following 
a descending channel, with every major rebound failing near the upper diagonal 
and every major sell-off finding a reaction near the lower boundary. The 
latest rejection around $83,100 in May has now become the main focus, and 
Bitcoin is now moving back into the lower half of the channel, where the final 
bottom could be waiting. Bitcoin’s Descending Channel Still Controls The 
Bigger Trend Eight months into a correction path defined by lower highs and 
lower lows from $126,000, Bitcoin is showing no signs of deviation. The daily 
candlestick chart shows Bitcoin has transitioned into a broad descending 
channel that has stayed intact for these eight months. Related Reading: The 
Bitcoin ‘Dream Entry’ To Wait For Before The Run-Up To $300,000 The upper 
boundary has acted as resistance each time Bitcoin has attempted a stronger 
recovery, first around the $97,855 lower high and later around the $83,156 
lower high. Each rejection has kept the larger bearish structure alive. The 
lower boundary has also been important. Bitcoin previously reacted near 
$82,167 before bouncing into the first major lower high, then fell again to 
around $60,000 in early February 2026. The rejection move from the $83,156 
resistance level in May also fits that same structure. Bitcoin is currently 
down by over 12% since that rejection and opened in June at around $73,670. 
Now that Bitcoin is trending downwards, the projection is that the next move 
lower may not be just another ordinary lower low. The projection by a crypto 
analyst that goes by the name NoName on X places the projected end of the 
channel near $51,291, which can also be seen as the possible cycle bottom. 
Prediction Markets Favor $60,000 Before $100,000 There are multiple technical 
outlooks that are predicting a further bottom before Bitcoin embarks on a new 
rally. These predictions also line up with a separate sentiment signal from 
prediction markets. Related Reading: Bitcoin Gets Stuck Between Two Giants As 
Price Fumbles, Which Will Prevail? Most notably, prediction markets Kalshi 
Crypto currently has a 60% implied chance that Bitcoin hits $60,000 before 
$100,000, meaning crypto participants are currently assigning more weight to 
another major downside move before a six-figure recovery Kalshi also gives 
Bitcoin only a 34% chance of moving back above $100,000 before January 2027, 
which is a major reversal from the start of 2026, when the market priced a 94% 
implied probability of BTC trading above $100,000 by the middle of the year. 
Bitcoin would still need to lose important support zones before that deeper 
target becomes realistic. The first test is whether sellers can keep the price 
above the middle of the channel at $70,000 and prevent another rebound back 
above $78,000 and $83,000. Featured image from Getty Images, chart from 
Tradingview.com

Bitcoin’s recovery attempts are still being judged against a larger structure that has controlled price action for months. An interesting technical analysis of the daily candlestick timeframe chart shows that Bitcoin is still following a descending channel, with every major rebound failing near the upper diagonal and every major sell-off finding a reaction near the &#8230;

Bitcoin Is Still Following This Descending Channel Pattern And The Endgame Shows The Bottom

CME Group launched 24/7 cryptocurrency futures and options trading on May 29, 
marking the first time retail and institutional traders can access regulated 
crypto derivatives at any hour, any day of the week. The Chicago-based 
derivatives exchange announced the expanded hours on June 1, confirming that 
more than 7,200 contracts traded over the inaugural weekend, […]

CME Group launched 24/7 cryptocurrency futures and options trading on May 29, marking the first time retail and institutional traders can access regulated crypto derivatives at any hour, any day of the week. The Chicago-based derivatives exchange announced the expanded hours on June 1, confirming that more than 7,200 contracts traded over the inaugural weekend, &#8230;

$50M in 72 Hours: CME Group’s 24/7 Crypto Futures Debut Draws Institutional Demand

CME Group has drawn about $50 million in notional volume during the first 
weekend of its new 24/7 cryptocurrency futures and options trading service. 
According to CME Group’s official update, more than 7,200 crypto futures and 
options contracts changed hands…

CME Group has drawn about $50 million in notional volume during the first weekend of its new 24/7 cryptocurrency futures and options trading service. According to CME Group’s official update, more than 7,200 crypto futures and options contracts changed hands…

CME Group crypto futures go 24/7 as first weekend volume hits $50M

Bitmine Immersion Technologies added 26,497 ETH last week, lifting its total 
ethereum holdings to 5,416,901 coins valued at roughly $10.85 billion and 
bringing the company within striking distance of owning 5% of ethereum’s 
entire circulating supply. A Deliberate Slowdown, Not a Retreat The purchase, 
worth approximately $53 million at roughly $2,003 per ETH, marks a […]

Bitmine Immersion Technologies added 26,497 ETH last week, lifting its total ethereum holdings to 5,416,901 coins valued at roughly $10.85 billion and bringing the company within striking distance of owning 5% of ethereum’s entire circulating supply. A Deliberate Slowdown, Not a Retreat The purchase, worth approximately $53 million at roughly $2,003 per ETH, marks a &#8230;

Tom Lee’s Bitmine Adds 26,497 ETH, Pushing Treasury to 5.42M Coins Worth $10.85B

Bitcoin’s sharp volatility decline coincides with a 114-day trading range, 
setting the stage for a potential 10% to 20% price move, but the direction 
remains uncertain.

Bitcoin’s sharp volatility decline coincides with a 114-day trading range, setting the stage for a potential 10% to 20% price move, but the direction remains uncertain.

Bitcoin volatility is down 56% but analysts still expect up to 20% BTC price move

Coinbase has intensified its push for U.S. crypto market rules as Senate 
lawmakers prepare for a decisive vote on the CLARITY Act this month. Shirzad 
said on Fox Business’ Mornings with Maria that the Digital Asset Market 
Clarity Act could…

Coinbase has intensified its push for U.S. crypto market rules as Senate lawmakers prepare for a decisive vote on the CLARITY Act this month. Shirzad said on Fox Business’ Mornings with Maria that the Digital Asset Market Clarity Act could…

Bitcoin Is Still Following This Descending Channel Pattern And The Endgame Shows The Bottom

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