The England international is set to miss Real Madrid's next two league games against Celta Vigo and Osasuna due to the red card that he was handed in the 2-2 draw with Valencia last weekend.
Bellingham was shown a straight red in the closing stages of the contest, having protested to referee Gil Manzano over what he believed should have been a winning goal for Los Blancos.
The ex-Birmingham City youngster headed a cross from Brahim Diaz into the back of the net at Mestalla, but the referee had clearly blown the full-time whistle before the ball went in.
There were furious protests from Real Madrid in the period that followed, and the Spanish Football Federation (RFEF) ruled that Bellingham showed "contempt or disregard" towards Manzano.
Real Madrid appealed the decision, but it was revealed on Friday afternoon that the Appeals Committee of the Spanish Football Federation (RFEF) had ruled that the initial decision should stand.
According to journalist Carlos Rodriguez, Los Blancos are now planning to lodge an appeal with the Sports Administrative Court (CSD) in the hope that the decision can still be overturned.
However, Real Madrid are due to face Celta on Sunday, so it remains to be seen whether a decision is made in time for the midfielder to potentially be available this weekend.
After Wednesday's 1-1 draw with RB Leipzig in the Champions League, which saw Los Blancos progress to the quarter-finals with a 2-1 aggregate success, Bellingham told Movistar: "It's difficult to talk about, because there's appeals going on.
"All I can say is what happened, with the referee's decision to blow the whistle. He's human, but so am I. I didn't say anything offensive. I feel like at times because I'm new, they want to make an example [of me], which I'm cool with.
"I have to take responsibility for my actions. I think two games is a bit ridiculous but if I have to miss those two games, I'll support the team from the stands."
Bellingham has been in impressive form for Real Madrid this season following his arrival from Borussia Dortmund during last summer's transfer window.
The 20-year-old has scored 20 goals and registered nine assists in 31 appearances in all competitions, including 16 goals and three assists in 22 outings in Spain's top flight.
Real Madrid are currently top of the La Liga table, seven points clear of second-placed Girona.