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Cambodia Extradites Billionaire Chen Zhi to China in Billion-Dollar Crypto Scam

Cambodian authorities extradited billionaire Chen Zhi, head of Prince Group, to China on Jan. 7 after his arrest with two associates. He is accused of orchestrating one of the world’s largest crypto scams, involving forced labor “scam factories” in Cambodia. Major Breakthrough in Transnational Crypto Fraud Investigation Cambodian authorities announced Jan. 7 that they have The News Crypto

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What’s Trapping Bitcoin (BTC) Below $100K? Analysts Break It Down

Bitcoin (BTC) opened the year strong but remains locked below the $100,000 level. The current price action is caught in a narrow range, with several key levels keeping it in place. Traders are now watching for signs that the market is ready to break out. Dealer Hedging Keeps Price Contained Crypto Rover said Bitcoin is being “mechanically suppressed” by dealer hedging. In this setup, dealers are managing risk by selling into rallies and buying dips. This activity has kept the price locked between $90,000 and $95,000. At the top, $100,000 remains a major resistance. BITCOIN’S $100,000 WALL & WHY IT’S STUCK AT $93,000. Bitcoin isn’t weak; it’s mechanically suppressed. Dealer hedging: selling rallies and buying dips to stay neutral. This has pinned price in a tight $90K–$95K range, defining the $90K support and the $100K resistance wall.… pic.twitter.com/XDr3D5MUfn — Crypto Rover (@cryptorover) January 8, 2026 Rover pointed out that many options expire later in January. That could be the trigger for the next move. Until then, the hedging may keep the price range tight. Bitcoin has tested both sides of this zone but hasn’t shown a clear direction. In parallel, technical indicators suggest BTC remains range-bound. Chart analyst Ali Martinez noted that Bitcoin needs a daily close above $94,000 or below $88,000 to confirm trend direction. At press time, BTC trades near $90,300, just below the midpoint of that range. The daily chart shows a rising support line that started forming in late 2025. Buyers continue to defend higher lows, but the $94,000 level has blocked further gains. Unless the price closes outside this range, it remains in consolidation. CME Gaps May Guide Next Steps Another analyst, Ted, shared a chart showing that the first CME futures gap around $90,700 has now been filled. The next possible target is the lower gap near $88,000–$88,500, which also lines up with a key support zone. Bitcoin tried to reclaim the $92,000–$94,000 area but faced heavy selling. If the asset drops again, the $88K zone could act as a magnet. Some traders expect that gap to be filled before a fresh move to the upside. Even so, spot market demand has led Bitcoin’s latest rebound, while futures traders appear cautious. This divergence shows that not all participants are positioned the same way. As reported by CryptoPotato, Bitcoin is still in the wider declining trend starting in September 2025, and the market is yet to prove a bottoming-out period. Analysts believe there is room to short-term rally to around $97,000 -107,000, yet believe that price will still fall below $70,000 later into the cycle. The post What’s Trapping Bitcoin (BTC) Below $100K? Analysts Break It Down appeared first on CryptoPotato . The News Crypto