Bitcoin filled one of two new futures gaps, with a trip below $90,000 as analysis predicted a potential low for the next BTC price cycle.
Bitcoin (BTC) dropped below $90,000 on Thursday as market participants eyed a classic short-term target next.
Key points:
Bitcoin is bullish along the 21-day moving average trendline as it fills open gaps in the CME futures markets.
The price can come back to $88,000 in the remaining space.
If the market turns higher without filling it, the $88,000 gap could mark the bottom of the next BTC price cycle, the analysis says.
The price of Bitcoin leaves 90,000,000
Trading Wave data during the Asia trading session showed new local levels of $89,530 on Bitstamp.
Bitcoin stayed in step with gold as both assets cooled their New Year’s rebound, which got a push courtesy of geopolitical tensions around Venezuela.
“Important day on $BTC,” wrote analyst and entrepreneur Michael Van de Poppe in his latest analysis on X, CryptoTrader.
Van de Poppe retested the 21-day moving average (MA) at $88,900.
“It has hit the 21-day MA and briefly dipped below that level,” he added.
“It’s not bad, it can take liquidity, although I’m in favor of Bitcoin to hold at this level.”
Led by exchange order book liquidity, trader Don Crypto flagged ,000 89,000 and ,000 92,000 as lines in the sand.
“Since the price is back in the middle of its major range, I wouldn’t be surprised to see it move around that region by the end of the week,” he said.
Bitcoin Futures Gaps: One Down, One To Go
A key focus on lower timeframes was the fate of the “gap” open in CME Group’s bitcoin futures market.
Related: Bitcoin ‘will not’ make new all-time high in 2026, says new study
Formed in the New Year period, gaps often dictate short-term BTC price targets, with BTC/USD “filling” the latest move lower.
“Are we headed for a deep move next CME gap around $88K?” The Crypto Education Resource Coin Bureau inquired in X React.
Filling the second gap will cost around 88,200.
Commenting, pseudonymous analyst CW, a contributor to Onechain analytics platform CryptoQuant, called the residual difference a “potential risk.”
“For a sustained uptrend, it’s better to eliminate this risk and then start a rally,” he told X Followers on Wednesday.
“However, if this gap is not filled, it means that the bottom of the next cycle will likely be closer to this point.”
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