Bitcoin stays in a descending channel as May's $83,100 rejection refocuses attention on a potential bottom

Bitcoin remains confined to a months-long descending channel on the daily chart, with rebounds repeatedly failing near the upper trendline and sell-offs reacting near the lower boundary. After a rejection around $83,100 in May, BTC is back in the channel's lower half and is down over 12%, opening June near $73,670 as traders watch whether $70,000 holds.