Bitcoin (BTC) Price Analysis: Is A Dip To $87,000 Coming?

Bitcoin (BTC) started the week in the red, falling to its lowest level in over a month. Amid this performance, some analysts consider BTC's price will likely

Bitcoin (BTC) price fell to its lowest level in over a month on Monday, as the world’s largest cryptocurrency dropped below $91,000 amid a broader sell-off in the crypto market.

BTC price dropped 5.8% to $90,300, its lowest since November 18, in the past 24 hours. The token ended last week with an overall positive performance, coming close to $96,000 and closing Friday above $94,000.

This performance was sustained throughout the weekend, with Bitcoin moving between the $93,700 and $95,900 price range over the past two days. The week began with seven consecutive red 1-hour candles, dropping below $91,000 for the first time since the December 19 correction and dipping lower than the December 5 pullback.

However, Bitcoin recovered after dropping below this key level, quickly bouncing back to reclaim the recently lost mark. According to crypto analyst Rekt Capital, BTC’s daily close will determine its next move, suggesting it needs a close above $91,000 to confirm the reclaim.

“Last week, BTC was deviating above the Range High resistance of $101,000. This week, BTC is potentially deviating below the Range Low support of $91,000,” the analyst explained.

He noted that BTC closed above the $101,000 range high last Monday but failed to retest it into new support after the breakout, reverting to the $91,000-$101,000 range.

For this week, Rekt Capital added that even if Bitcoin closes the day below the $91,000 range low, it will likely need to turn that level into resistance for its price to drop into the $87,000-$91,000 range.

“Generally speaking though, BTC needs to be closing above this level to continue staying within the current range. Having said that, a lot can change through the day,” the analyst stated.

Is a dip to $87,000 coming?

Rekt Capital highlighted that BTC’s monthly returns tend to be “patchy and predominately bearish” in January. As CoinGlass data shows, Bitcoin’s performance has been mostly bearish in January.

Since 2013, BTC has started the year in red seven times, including 2025’s current performance. According to the post, the market usually “picks up” in February.

“The higher timeframe levels that are teasing to be lost as support are likely to be turned into resistance in the future,” the analyst added.

Meanwhile, Altcoin Sherpa believes “1 last liquidation wick” is due before “we reverse for BTC.” The analyst also suggested that Altcoins are likely to drop another 30%-50% before the Altseason.

Similarly, Daan Crypto Trades pointed out that a “bunch of shorts have entered the market in the past few hours.” The trader noted that “price just keeps slowly dribbling back down” as these positions are usually “punished” when bulls are in control.

“At some point, the shorts will have to close out, but they probably won’t do so before pushing the market down further, combined with the spot selling from Coinbase,” Daan explained, adding that “the slow grinds down end in a violent wick, after which shorts take profit, and we see a (local) bottom.”

Additionally, the trader highlighted the similarities between BTC’s performance between December 2023 and January 2024 and December 2024 and January 2025.

If history were to repeat, Bitcoin’s next move could be a correction to the $87,000 support, followed by a consolidation period in the new range.

At the time of writing, BTC price is trading at $91,700, down 2.9% on the daily timeframe.