Bitcoin had a slow weekend, dropping close to $95,000. Many traders sold off their holdings, and trading volume went down. But a crypto expert believes Bitcoin might rise again soon because of something called a CME gap.
What Is a CME Gap?
The Chicago Mercantile Exchange (CME) is a major U.S. market where people trade Bitcoin futures. It closes on Fridays and doesn’t open until Monday. But crypto keeps trading all weekend on sites like Binance.
When prices move during the weekend, there can be a “gap” between where CME closed on Friday and where Bitcoin is trading on other platforms. This weekend, CME closed with Bitcoin at $97,022, but the price fell to around $95,400 after that.
This creates a CME gap of $1,600. In the past, Bitcoin often moves back up to “fill the gap” within 1 to 3 days after CME reopens. That means there’s a chance the price could bounce back to $97,000 soon.
But There’s Also a Lower Gap to Watch
Another older gap is still open from a couple of weeks ago, between $91,000 and $92,000. That one hasn’t been filled yet either.
This means Bitcoin could fall lower first to close that old gap before moving higher. Right now, Bitcoin is stuck between the two price levels — $91K below and $97K above — making the next move uncertain.
Bitcoin Trading in a Tight Range
Bitcoin is also trading in a tight price zone. It’s close to its daily, weekly, monthly, and yearly starting prices. These are important levels where Bitcoin often bounces or breaks out.
If Bitcoin moves above the Daily Open, it could rise toward $97K and close the weekend gap. But if it drops below the Yearly Open, it might fall toward $91K to fill the older gap.
Past Examples of CME Gaps Getting Filled
- In June 2023, Bitcoin filled a $900 CME gap in just two days and jumped in price after.
- In March 2024, it dropped to close a lower gap, then bounced back with a 10% gain.
In Short
Bitcoin might rise soon to fill a $97,000 gap, but there’s also a chance it could drop first to $91,000. All eyes are on what happens when the CME market opens this week.
