Bitcoin traded below $69,000 on Sunday as the market faced a critical weekly candle close. BTC approached its 200-week trend line after a weekend dip to near $68,000, leaving traders firmly bearish on the immediate and long-term outlook.
Over $300 million in longs and nearly $100 million in shorts were liquidated in the 24 hours to the time of writing, per data from CoinGlass. BTC/USD set up a fresh showdown around its 200-week EMA near $68,300, which has become unreliable in 2026.
Analysts like Rekt Capital warned that Bitcoin could meander around the 200-week EMA for a while before breaking down further. Trader Roman also maintained a $50,000 target, citing no signs of bear market exhaustion.
A potential golden cross involving the 21-day and 50-day SMAs signaled short-term bullish momentum, but analysts cautioned it may not lead to a sustained recovery.
