Bitcoin remains under pressure despite another strong reaction from the $58K to $60K demand zone. Although buyers once again stepped in after sweeping the recent lows, the recovery has so far been limited, with the price continuing to trade below key resistance levels.

Bitcoin Price Analysis: The Daily Chart

On the daily timeframe, Bitcoin continues to trade below both the 100-day moving average around $72K and the 200-day moving average near $76K, keeping the broader market structure bearish.

The most recent development is another successful defense of the $59K to $60K support zone. The asset briefly swept below the previous swing low before rebounding back into the range, suggesting that liquidity beneath support has been collected for now.

However, despite the bounce, Bitcoin remains trapped beneath the first supply zone between $65K and $68K. As long as this area caps the recovery, buyers remain on the defensive and the broader downtrend stays intact.

The recent liquidity sweep has improved the short-term picture, but Bitcoin still needs to reclaim the $65K to $68K resistance region to confirm that a more meaningful recovery is underway.

BTC/USDT 4-Hour Chart

The 4-hour chart shows that Bitcoin initially broke below the major support around $59K before quickly reversing higher, forming what appears to be a liquidity sweep beneath the previous lows.

Following that recovery, the price rallied toward the newly formed resistance zone around $61K to $62K but failed to establish a sustained breakout. Sellers defended the area and pushed Bitcoin back toward the $60K region, keeping the short-term sequence of lower highs intact.

For now, the immediate resistance remains at $61K to $62K, while the broader supply zone between $65K and $68K continues to represent the primary upside obstacle.

As long as Bitcoin holds above the $59K to $60K demand zone, another recovery attempt remains possible. However, failure to reclaim nearby resistance would leave the market vulnerable to another retest of support.

Sentiment Analysis

The Coinbase Premium Gap continues to trend deeply negative, indicating that buying activity from U.S. investors remains subdued despite Bitcoin revisiting a major support zone.

Although Bitcoin recently recovered after sweeping liquidity below $59K, the premium has not shown a meaningful improvement and continues to print negative readings. This suggests that the latest rebound has not been accompanied by strong spot demand from Coinbase participants, who are often viewed as a proxy for U.S. institutional investors.

As a result, the on-chain data remains cautious. While the recent liquidity sweep may support additional short-term relief, a sustained recovery will likely require the Coinbase Premium Gap to stabilize and begin moving back toward neutral territory, signaling renewed institutional accumulation.

Source: CryptoPotato