Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Bitcoin (BTC) started the week in the red, falling to its lowest level in over a month. Amid this performance, some analysts consider BTC\u2019s price will likely see another drop before the flagship crypto aims for new highs. Related Reading: Ethereum Tagged As Crypto\u2019s \u2018Most Cursed\u2019 Coin\u2014What\u2019s Haunting It? Bitcoin Needs Daily Close Above $91,000 On Monday, Bitcoin shook off the weekend gains, dropping 5.8% to $90,300, its lowest price since November 18. The flagship crypto ended last week with an overall positive performance, nearing $96,000 and closing Friday above $94,000. This performance was held throughout the weekend, with Bitcoin moving between the $93,700 and $95,900 price range the past two days. This week started with seven straight red 1-hour candles, dropping below $91,000 for the first time since the December 19 correction and dipping lower than the December 5 pullback. However, Bitcoin bounced after dropping below this key level, recovering the recently lost mark. Crypto analyst Rekt Capital stated that BTC\u2019s daily close will dictate the next move, suggesting it needs a close above $91,000 to confirm the reclaim. The analyst explained, \u201cLast week, Bitcoin was deviating beyond the Range High resistance of $101,000. This week, Bitcoin is potentially deviating below the Range Low support of $91,000.\u201d\u00a0He asserted that BTC closed above the $101,000 range high last Monday but failed to retest it into new support after the breakout, reverting to the $91,000-$101,000 range. For this week, Rekt Capital added that even if Bitcoin closes the day below the $91,000 range low, it will likely need to turn that level into resistance for its price to drop into the $87,000-$91,000 range. Nonetheless, he stated that Bitcoin generally needs to close above this key level to persevere in its current range but noted that \u201ca lot can change through the day.\u201d Is A Dip To $87,000 Coming? Rekt Capital highlighted that BTC\u2019s monthly returns tend to be \u201cpatchy and predominately bearish\u201d in January. As CoinGlass data shows, Bitcoin\u2019s performance has been mostly bearish in January. Since 2013, BTC has started the year in red seven times, including 2025\u2019s current performance. According to the post, the market usually “picks up” in February. He added that the higher timeframe levels that are \u201cteasing to be lost as support\u201d are \u201clikely to be reclaimed\u201d in the future. Meanwhile, Altcoin Sherpa considers that \u201c1 last liquidation wick\u201d is due before \u201cwe reverse for BTC.\u201d The analyst also suggested that Altcoins are likely to drop another 30%-50% before the Altseason. Similarly, Daan Crypto Trades pointed out that a \u201cbunch of shorts have entered the market in the past few hours.\u201d The trader noted that \u00a0\u201cprice just keeps slowly dribbling back down\u201d as these positions are usually \u201cpunished\u201d when bulls are in control. Related Reading: Solana (SOL) Teeters on the Edge: Is a Steep Decline Next? Daan explained, \u201cAt some point, the shorts will have to close out, but they probably won’t do so before pushing the market down further, combined with the spot selling from Coinbase.\u201d And added that \u201cthe slow grinds down end in a violent wick, after which shorts take profit, and we see a (local) bottom.\u201d Additionally, the trader highlighted the similarities between BTC\u2019s performance between December 2023 and January 2024 and December 2024 and January 2025. If history were to repeat, Bitcoin\u2019s next move could be a correction to the $87,000 support, followed by a consolidation period in the new range. As of this writing, BTC is trading at $91,700, a 2.9% decline in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":602298,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,14618,679,1119,78790,26263,93285,10923,93291,89756],"class_list":["post-674877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-bulls","tag-bitcoin-price","tag-btc","tag-btcusdt","tag-crypto-analyst","tag-crypto-bull-run-2025","tag-crypto-market","tag-crypto-market-correction","tag-crypto-trader"],"acf":[],"yoast_head":"\n
Bitcoin Daily Close To \u2018Dictate The Next Move\u2019, Price Drop Ahead?<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n