Is Bitcoin Price About to Make a Massive Move? The Bitcoin CME … – – Bitcoin Price, Ethereum Price & Crypto News


The Bitcoin CME gap is a phenomenon observed in the Bitcoin futures market on the Chicago Mercantile Exchange (CME). It occurs when there is a significant difference between the closing price of Bitcoin futures on Friday and the opening price on Monday. This gap is attributed to the non-stop trading of Bitcoin price on other platforms over the weekend, while the CME is closed. As a result, any significant price movements during the weekend create a gap in the CME chart.
Traders and analysts often monitor these gaps closely, as there is a prevailing belief that these gaps tend to be filled over time. This belief stems from the observation that Bitcoin’s price often moves back to the gap level, effectively ‘filling’ it. This tendency is not unique to Bitcoin; it is a common occurrence in various financial markets.
Bitcoin’s inherent volatility and its cyclical nature contribute to the formation and eventual filling of these gaps. Typically, gaps are formed during strong bullish or bearish trends. When the trend reverses, the price movement towards the new direction often leads to the filling of these gaps.
Historical data from CoinMarketCap can provide insights into previous CME gaps and their outcomes. For instance, in a previous cycle, a gap formed near $3,500 was never filled as Bitcoin entered a bull market, soaring past this level without retracing.
As of October 2023, a notable gap exists at $20,800. This gap was created when Bitcoin bottomed near $15,500 and then surged, possibly due to factors surrounding its halving and other bullish narratives.
Using historical data from CoinMarketCap, we can observe Bitcoin’s price movements and the formation of CME gaps. For instance, in the previous cycle, when Bitcoin bottomed near $3,000, a CME gap was formed at $3,500. Despite expectations, this gap was never filled as Bitcoin entered a bull market.
In the current cycle, Bitcoin’s price bottomed near $15,500, leaving a gap near $20,800. Analyzing the monthly closing prices of Bitcoin from February to October 2023, we see a fluctuating yet generally upward trend, with prices ranging from $23,137.84 (February) to $34,018 (October).
To assess the likelihood of the $20,800 gap being filled, we need to consider several factors:
Considering the current cycle and Bitcoin’s price trajectory, the $20,800 gap presents an interesting case. If Bitcoin continues its upward trend without major disruptions, this gap might remain unfilled, similar to the $3,500 gap in the previous cycle. The historical data suggests a strong recovery and a potential bull run, especially as Bitcoin approaches its next halving event and other significant narratives unfold in the crypto space.
It’s crucial to acknowledge the unpredictable nature of Bitcoin and the influence of external factors, such as regulatory changes or macroeconomic shifts, which could dramatically affect its price.
While historical trends and market psychology suggest that CME gaps in Bitcoin often get filled, it’s not a certainty. The $20,800 gap presents an intriguing case for traders and analysts. Whether this gap will be filled depends on a multitude of factors, including market sentiment, upcoming Bitcoin events, and broader economic conditions. As always in the cryptocurrency market, vigilance and adaptability are key for those looking to capitalize on these movements.
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