Essential Guide: Bitcoin Price May Bottom At $88k Next Cycle If Last Cme Gap Stays Open

Bitcoin filled one of two new futures gaps with a trip below $90,000 as analysis predicted a potential bottom level for the next BTC price cycle.

Bitcoin (BTC) dipped below $90,000 Thursday as market participants see a classic short-term target coming next.

Bitcoin dices with the 21-day moving average trendline as it fills open gaps in CME futures markets.

One gap remaining could see the price return to $88,000 next.

If the market reverses higher without filling it, that $88,000 gap could mark the bottom of the next BTC price cycle, says analysis.

Data from TradingView showed new local lows of $89,530 on Bitstamp during the Asia trading session.

Bitcoin stayed in step with gold as both assets cooled their new-year rebound, which received a push courtesy of geopolitical tensions around Venezuela.

“Important day on $BTC,” crypto trader, analyst and entrepreneur Michaël van de Poppe wrote in his latest analysis on X.

Van de Poppe reported a retest of the 21-day moving average (MA) at $88,900.

“It's hit the 21-Day MA and briefly dipped beneath this level,” he continued.

Source: CoinTelegraph