Contrary to our previous expectations, BTC plummeted to new lows. Notably, there are two significant CME gaps at $77,000 and $94,000. We anticipate the downtrend to persist until BTC closes the lower gap at $77,000 and potentially retests the support level around $74,000. Alternatively, a move towards $94,000 to fill the higher gap before further downside is also a possible scenario.