Bearish BTC price takes are back in full force as Bitcoin gave back the majority of its 2026 recovery, when bulls failed to overcome $95,000 resistance.
Bitcoin (BTC) is still in line for new long-term lows as analysis dismisses recent BTC price gains as a bearish “reset.”
Key points:
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Bitcoin bears appear in control on shorter and longer timeframes as traders see no reason to alter bearish takes.
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One forecast maintains that BTC price will return to last April’s lows around $75,000.
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A break through the 2026 open may be required for market consolidation.
Bitcoin trader says $76,000 “is coming”
Bitcoin traders are struggling to construct a bull case based on BTC price behavior so far in 2026.
$BTC Open Interest making new highs while price is slowly drifting lower, Coinbase has deep discount, bears dominating here. pic.twitter.com/UFQd1ozQbu
— exitpump (@exitpumpBTC) January 8, 2026
After nearly reaching $95,000, BTC/USD is back near its yearly open, per data from TradingView, threatening to give up $90,000 on intraday timeframes.
“The first breakout attempt for $BTC is a certified rejection,” Keith Alan, cofounder of trading resource Material Indicators, wrote in a response on X.
Alan, who this week warned of bearish forces playing out on high timeframes, said that “sights are set on a cluster of technical support in the $87.5k – $89k range.”
“With a macro Death Cross developing on the Weekly chart later this month, I view any pump we may get from here as a sell the rip event, until I see any evidence why it shouldn’t be,” he added.
Alan is far from alone when it comes to misgivings about BTC price strength.
Trader Roman, who warned about a macro breakdown on BTC/USD throughout 2025, has doubled down on a near-term target of $76,000 — a level last seen in April.
“Now at 89k and lower coming,” he told X followers Thursday.
“I still believe 76k is coming and all this sideways movement is just a reset to get there. I don’t see any signs of reversal and HTF is still very bearish.”
BTC price rebound: No pain, no gain
Continuing, others found little reason to believe that the January trading range would remain intact going forward, instead favoring fresh volatility.
Related: Bitcoin price may bottom at $88K next cycle if last CME gap stays open
“As we speak, it is unlikely that the monthly low (and high) holds,” trader Daan Crypto Trades concluded in an X post.
“100% of months in the past 2 years have seen a larger wick below the monthly candle than this one. This is why a candle going straight up from its open, is often a reason to be cautious later on.”
January’s low currently stands at just under $87,500. Daan Crypto Trades argued that it would, in fact, be better for BTC/USD to break below it to form a firmer foundation for a long-term rebound.
“Personally I’d prefer it more if we took out those lows to get all these warnings out of the way so price can start finding a floor later on. Otherwise you just risk reversing later on anyways,” he added.
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