bullish

2026

Bitcoin

when

would

Bitcoin bulls started the year on a high note, pushing the flagship cryptocurrency to nearly $95,000. However, the rally quickly faded.
The flagship coin is now <a href="https://x.com/CryptoTony__/status/2008982971928227863" rel="noopener noreferrer nofollow">on the cusp</a> 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.
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.
<h2 id="cme-gaps">CME gaps</h2>
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.
<a href="https://u.today/bitcoin-btc-price-analysis-for-january-7" rel="noopener noreferrer nofollow">Bitcoin</a> 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.
<blockquote class="twitter-tweet">
 BREAKING: <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> 's First CME Gap Has Been Covered"after falling from 94k. <a href="https://t.co/w9fHDhHdgS" rel="noopener noreferrer nofollow">pic.twitter.com/w9fHDhHdgS</a>— CryptoBB (@CryptoBB01) <a href="https://twitter.com/CryptoBB01/status/2008985354540556306?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 7, 2026</a>
</blockquote>
If the support at this level breaks, this lower gap ($88,110 – $88,820) becomes the next logical target for bears.
<h2 id="back-into-the-trenches">"Back into the trenches"</h2>
As <a href="https://u.today/legendary-trader-bollinger-names-upside-targets-for-bitcoin" rel="noopener noreferrer nofollow">reported by U.Today</a>, legendary trader John Bollinger recently predicted that the price of Bitcoin (BTC) could potentially surge to the $107,000 level.
However, he also cautioned that the cryptocurrency would be "back to the trenches" if it had failed there. <a href="https://u.today/bulls-in-despair-as-bitcoin-erases-2026-gains" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Bulls in Despair as Bitcoin Erases 2026 Gains

Table of Contents

U.Today

Other articles published on Jan 8, 2026

5 countries dominate Europe’s crypto media traffic in Q3

MSCI Retains DATCOs in Global Indexes

Morgan Stanley to launch digital asset wallet as part of crypto product expansion

Pi Network’s 2025: Most Impactful Updates & Developments

The $7M Trust Wallet Extension Hack: All You Need to Know

Telcoin's Banking Operations Begin as eUSD Launches on Ethereum & Polygon

Join our free newsletter for daily crypto updates!