A closely-watched gap in bitcoin's (BTC) CME futures has been fully filled a day after a record jump in opening and closing prices, possibly setting the stage for the next climb.
A closely-watched gap in bitcoin’s (BTC) CME futures has been fully filled a day after a record jump in opening and closing prices, possibly setting the stage for the next climb.
BTC soared to $92,000 on Monday, fueled by renewed institutional fervor after U.S. President Donald Trump announced plans for a strategic crypto reserve.
The rally, however, left a significant gap in the CME Bitcoin futures chart between Friday’s close at $84,500 and Monday’s open at $95,300. That has been fully by Asian afternoon hours on Tuesday with BTC retracing to $83,500.
CME gaps — price disparities caused by the exchange’s weekend closure while spot markets trade around the clock — tend to historically act as magnets for bitcoin prices.
Data shows most of these gaps eventually fill, often signaling a correction after sharp moves — and Tuesday's gap-fill is yet another instance where BTC tends to revert to equilibrium after an explosive move higher.
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