Bitcoin has finally broken through $77,000. The market sentiment is positive, and many traders expect it to fill the next CME gap between $80,000 and $84,000. However, some analysts are cautious, warning that given the current geopolitical risks and the decline in on-chain momentum, such a clean upward scenario is unlikely.

From here, selling pressure is likely to increase. The bearish camp points out the possibility of a drop to the support level of $70,000, and stop-loss adjustments for short positions are also progressing. On the other hand, the bullish camp believes in the liquidity of institutional investors and the potential for a short squeeze, predicting a rise to $85,000. They see the bottoming of the SOPR ratio and the turn of NUPL into positive territory as bullish signals.

The current price is around $81,920. The CME gap strategy remains a hot topic, but due to significant macroeconomic uncertainties, caution is needed for short-term fluctuations.