Bitcoin Price Action: Back to Yearly Open
Bitcoin has completed a 100% retracement of its 2026 advance, revisiting the yearly open around $87,500 and neutralizing YTD performance.
Key Levels
Resistance rejected: $97,900 (+12% peak)
Current support: Yearly Open (~$87,500)
From a structural perspective, the long-term trend remains intact as long as the yearly open holds on higher timeframes.
This move could represent a leverage-driven shakeout, pending confirmation from open interest and funding normalization.
Acceptance below the yearly open would invalidate this thesis and shift focus to deeper HTF support.
