Bitcoin Daily Close To ‘Dictate The Next Move’, Price Drop Ahead?
Bitcoin (BTC) started the week in the red, falling to its lowest level in more than a month. Amid this performance, some analysts believe that Bitcoin’s price could fall again before the flagship cryptocurrency reaches new highs.
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Bitcoin needs daily closing price above $91,000
Bitcoin shrugged off weekend gains on Monday, falling 5.8% to $90,300, lowest Prices since November 18th. The flagship cryptocurrency had an overall positive week last week, approaching $96,000, before closing above $94,000 on Friday.
This performance continued throughout the weekend, with Bitcoin’s price range fluctuating between $93,700 and $95,900 over the past two days. The week started with seven consecutive red 1-hour candles, breaking below $91,000 for the first time since the December 19 correction and below the December 5 pullback.
However, Bitcoin rebounded after falling below this key level, regaining the recently lost levels. Cryptocurrency Analyst Rekt Capital point out BTC’s daily close will determine its next move, suggesting it would need a close above $91,000 to confirm a pullback.
“Last week, Bitcoin moved away from the range-high resistance at $101,000. This week, Bitcoin is likely to move away from the range-low support at $91,000,” the analyst explained. assertive BTC closed last Monday above the $101,000 range high, but failed to retest new support after the breakout, falling back to the $91,000 to $101,000 range.
Rekt Capital added that this week, even if Bitcoin closes below the $91,000 range low, it may need to turn that level into resistance, taking its price down to the $87,000 to $91,000 range.
Still, he said Bitcoin typically requires closure above this key level to maintain the current range, but noted that “a lot can change throughout the day.”
Will it drop to $87,000?
Rekt Capital highlighted that BTC’s monthly returns in January tended to be “mixed and primarily bearish.” Bitcoin’s performance in January was mostly bearish, as CoinGlass data shows. Since 2013, BTC has started the year in the red seven times, including its current performance in 2025.
According to the post, the market will typically be at February. He added that higher time frame levels “could lose support” but “could be reclaimed” in the future.
Meanwhile, altcoin sherpas consider The “last liquidation candle” will expire before “we reverse BTC”. The analyst also said that altcoins could fall another 30%-50% before the alt season arrives.
Likewise, Daan Crypto Trades point out “A lot of shorts have entered the market in the past few hours.” The trader noted that “price has been slowly coming back down” because these positions are usually “punished” when bulls take control.
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“At some point, shorts will have to close their positions, but they probably won’t before that, combined with Coinbase’s spot selling, causes the market to fall further,” Daan explained, adding that “a slow decline ends up with The violent wick ended, followed by short profit taking, and we saw a (local) bottom.”
In addition, traders Highlight Similarities in how BTC performs between December 2023 and January 2024 and between December 2024 and January 2025. If history repeats itself, Bitcoin’s next move could be a correction towards support at $87,000, followed by a period of consolidation in a new range.
As of this writing, BTC is trading at $91,700, down 2.9% daily.
Featured image from Unsplash.com, chart from TradingView.com
