TLDR
- Bitcoin’s price fell to $65,800 on Wednesday, breaking below key intraday trend lines, raising concerns about further downside risk.
- Bitcoin futures data shows increasing bearish activity, with analysts suggesting the possibility of a drop to $60,000 due to liquidity gaps.
- The RSI remained below 50, indicating limited buying pressure and reinforcing short-term bearish sentiment in the Bitcoin market.
- Bitcoin’s recent struggle to maintain levels above $70,000 has led to lower price highs, further confirming the downward trend.
- Liquidity heatmaps reveal a “liquidity void” between $66,000 and $60,500, which could accelerate price movement towards lower support levels.
Bitcoin’s price dropped to $65,800 on Wednesday, falling back under key intraday trend lines. Analysts now suggest the possibility of another drop to the yearly low of $59,800 is increasing due to growing liquidity gaps. This shift in market sentiment has raised concerns among traders about a bearish market trend, with Bitcoin futures indicating further downside potential.
Bitcoin Faces Growing Bearish Pressure Below $66,000
Bitcoin’s price recently failed to maintain upward momentum after peaking at $69,800. The sharp reversal during the New York session on Wednesday formed a classic swing failure pattern, trapping breakout longs. As a result, downside momentum has increased, with Bitcoin briefly falling below the 50-period and 100-period exponential moving averages.
This indicates that short-term bearish control is gaining strength. The relative strength index (RSI) remained below 50, signaling limited buying pressure. With each rejection above $70,000, Bitcoin is seeing lower price highs and steady selling pressure. Bitcoin is currently at risk of testing lower support levels, with analysts pointing to the $60,000 region as a key threshold.
Bitcoin Futures Show Increased Bearish Activity
Bitcoin futures data reveal that market sentiment is shifting as bears start to take control. The recent drop below the anchored volume-weighted average price (VWAP) drawn from last week’s lows signals a change in sentiment. Bitcoin trader Husky noted that the $59,800 level is acting as a short-term fair value for Bitcoin, suggesting further downside could materialize.
gm$BTC is losing the VWAP anchored from last week's lows and TPO value is starting to roll over.
I have some levels to short in red, but that would mean we reclaim VWAP and value so I'll probably skip them. The only one I'd actually short is Monday High, it would clear up part… pic.twitter.com/IpCopvlVvS
— Husky (@huskyXBT) February 11, 2026
Liquidity heatmaps for Bitcoin futures show a stacked order book above $72,000. However, the data also highlights a “liquidity void” between $66,000 and $60,500, a gap that could potentially drive price action lower. Bitcoin’s failure to regain momentum above $68,000 further increases the likelihood of price movements toward lower support areas near $65,000 or possibly $60,000.
Bitcoin traders are closely watching the $64,000 and $60,000 support zones as key levels that could determine the next major move. Analysts are forecasting a range between $60,000 and $72,000 for Bitcoin in the short term, with a possible test of the $60,000 mark if selling pressure persists.
