Bitcoin remains in a downtrend, with several technical and onchain levels now acting as key support.
The cryptocurrency dipped to around $86,000 when CME futures reopened on Sunday after the weekend pause, before staging a modest recovery. Despite the bounce, the broader market structure remains bearish.
The move left a CME gap near $89,265. These gaps form when bitcoin’s spot price moves while CME futures are closed, and historically, price often revisits them.
Bitcoin last reached an all-time high on Oct. 6, 111 days ago, and has since fallen roughly 30%. A break below $80,000 could trigger a retest of April 2025 lows near $76,000, levels tied to the tariff-driven selloff.
The 100-week moving average, currently near $87,145, continues to provide structural support, holding since the Nov. 21 low of $80,000. Bitcoin has already dropped below its 50-day moving average, just above $90,000, a key short-term trend indicator.
Additional support zones include the Difficulty Regression Model at $89,300, reflecting mining costs; the aggregate cost basis of U.S. spot BTC ETF buyers at $84,099; and the 2024 average exchange withdrawal price at $82,713.
Finally, the True Market Mean Price, calculated as Investor Cap divided by Active Supply, sits just above $80,000, closely aligning with the November low and serving as a potential mean-reversion level.
