Bitcoin Price May Drop to $60K Before Potentially Reaching Six Figures

Bitcoin's price has been trapped in a descending channel for eight months since its peak near $126,000. The structure of this channel suggests that a possible bottom is near $51,291.

The channel's lower boundary has drawn a bounce at $82,167 before the price slid to roughly $60,000 in early February 2026. Every touch of the diagonal line has produced a sharp drop rather than a clean breakout.

Kalshi traders give Bitcoin a 60% chance of hitting $60,000 before reclaiming $100,000. This puts more money on another leg down than on a quick six-figure recovery.