Bitcoin (BTC) is currently trading at approximately $96,000, holding steady despite renewed scrutiny of the unfilled CME gap at around $92,000. This minor decline occurs even as trading volume remains robust and Bitcoin’s market capitalization stays above $1.8 trillion. Analysts maintain a bullish outlook, suggesting a possibility of a rebound toward the $101,000 to $103,000 range. Factors such as high-timeframe demand, diminishing bearish momentum, and improving liquidity conditions bolster this sentiment, despite ongoing discussions among traders regarding the CME gap’s role as a short-term price attractor.
The open CME futures gap at $92,000 continues to be a focal point for many traders. This gap has historically drawn prices owing to discrepancies between futures and spot markets. Analyst Ted Pillows has pointed out that as Bitcoin approaches this gap, it is likely to fill it before any significant recovery. Charts across trading platforms indicate that Bitcoin might encounter resistance between $99,000 and $111,000 before retreating again into the mid-$90,000s.
There exists a divide among market participants: some bearish traders anticipate a deeper dive into the $92,000 area or even the $88,000 to $90,000 range, while long-term holders and technical analysts draw parallels to prior consolidation periods, which previously set the stage for trend continuation.
The $88,000 to $90,000 range has garnered attention as an important technical support level. This area aligns with a long-standing trendline that has been observed since mid-2024. According to Pillows, this region may act as a local bottom for Bitcoin if reached. Historical data suggests that Bitcoin has repeatedly bounced back from this trendline over the last year. A breach below this support could significantly weaken the bullish macro structure, although it remains intact for the moment.
Meanwhile, institutional interest in Bitcoin appears steady, as evidenced by daily disclosures from Bitcoin ETF issuers, including major players like BlackRock, Fidelity, and Grayscale. Despite fluctuations in week-to-week inflows, the sustained demand from regulated ETF channels could underpin long-term market participation.
Indications of bullish sentiment are emerging as analysts observe several high-timeframe indicators. A sweep of sell-side liquidity around the June–July lows, a test of a Daily Fair Value Gap (FVG) in a demand zone, and high-volume rejection wicks suggest that buyers have begun to step in. Additionally, the Alligator indicator reveals a slowdown in bearish momentum, hinting at a possible transition from corrective activity to re-accumulation. However, the effectiveness of these signals depends on continued demand and favorable market liquidity conditions.
On the 1-hour timeframe, Bitcoin is showing early signs of structural support after reaching a key daily demand zone. The formation of an accumulation pattern indicates that Bitcoin may be entering a short-term reversal phase. Analysts focused on liquidity-based models suggest that this structure corresponds to a potential continuation setup, with anticipated entry points between $96,200 and $96,400. A structural invalidation position is set below $94,180, while efficiency targets for potential upward movement exist at $101,013, $102,934, and $103,989.
As the market looks ahead, Bitcoin’s trajectory appears contingent on behavior in the mid-$90,000 range and whether liquidity conditions enable a rebound or invite a deeper testing of lower price levels. Current sentiment among traders is mixed, balancing the risk of a gap-fill scenario against signs of technical stabilization on higher timeframes.
At present, Bitcoin is priced at around $96,162, reflecting a 0.50% decrease in the last 24 hours. The interplay of demand zones, improving market structure, continued institutional participation through ETFs, and a notable reduction in downside momentum collectively argue for a constructive macro trajectory for Bitcoin, barring the failure of significant support levels. Market participants are closely monitoring to see if Bitcoin can maintain its position above $96,000 while targeting a rise toward the $101,000 to $103,000 range amid ongoing attention on the CME gap.
