Bulls in Despair as Bitcoin Erases 2026 Gains
Analysis
Price Impact
HighBitcoin has failed to hold the critical $90,000 level multiple times and has erased its 2026 gains, leading to 'despair among bulls.' the current price action around cme gaps is crucial for determining immediate future direction.
Trustworthiness
MedAnalysis is based on technical indicators (cme gaps, support levels) and observed market sentiment, but relies on the 'gap fill theory' which is not always guaranteed.
Price Direction
BearishBitcoin has fallen from $94,000, covered its first cme gap, and is struggling to find support. if the current support around $90,550-$91,550 breaks, a further drop to the lower gap ($88,110-$88,820) is likely, confirming a bearish trend.
Time Effect
ShortThe analysis focuses on immediate price reactions to current cme gap fills and critical short-term support levels, impacting the price trajectory in the coming days.
Original Article:
Article Content:
Cover image via U.Today Read U.TODAY on Google News Bitcoin bulls started the year on a high note, pushing the flagship cryptocurrency to nearly $95,000. However, the rally quickly faded. Advertisement The flagship coin is now on the cusp of losing the make-it-or-break-it $90,000 level once again. Bitcoin has failed to hold above the critical $90,000 level three distinct times since November 2025. HOT Stories Bulls in Despair as Bitcoin Erases 2026 Gains Morning Crypto Report: XRP Hits Brutal 760,456% Liquidation Imbalance, 'I Feel Fine': Ex-Ripple CTO Speaks Out on Retirement, Coinbase CEO Reveals Main Target for 2026 CNBC Declares XRP the 'Breakout Trade of 2026' Ripple President: We Still Plan to Remain Private The current despair among bulls is driven by the realization that the New Year's rally was likely a "bull trap" rather than a structural reversal. Advertisement CME gaps If the breakout does not immediately confirm with strong momentum, the bullish structure is invalidated. The CME market closes on weekends and holidays. It leaves a literal blank space or "gap" on the chart when the market reopens at a significantly different price than it closed. Traders focus on these because of the "gap fill theory." The market has a psychological and algorithmic tendency to "fill" these gaps. Advertisement You Might Also Like Mon, 01/05/2026 - 19:24 Bitcoin Is Back on the Right Track, Analyst David Cox Says By Alex Dovbnya Bitcoin traders are currently focused on the gap between $90,550 – $91,550 that Bitcoin is seemingly filling right now. If Bitcoin finds support here and "bounces" after filling the gap, the bullish trend might resume. If it slices through, it confirms weakness. BREAKING: #Bitcoin 's First CME Gap Has Been Covered" after falling from 94k. pic.twitter.com/w9fHDhHdgS — CryptoBB (@CryptoBB01) January 7, 2026 If the support at this level breaks, this lower gap (($88,110 – $88,820) becomes the next logical target for bears. #Bitcoin Price Prediction