Bitcoin Pulls Back—Here’s the CME Gap That’s Got Traders on Edge

Bitcoin’s latest retracement has crypto sleuths circling a critical CME futures gap—the kind that tends to get filled when Wall Street’s algo-traders wake up. Price action’s playing coy for now, but history suggests this one’s a ticking time bomb.

Pro tip: Watch the $58K level like a hawk. That’s where the ’institutional paper hands’ (read: hedge funds) left their fingerprints last quarter. Nothing moves markets like the collective PTSD of leveraged positions gone wrong.

Bonus cynicism: Meanwhile, traditional finance bros are still trying to short BTC with 100x leverage—because what could possibly go wrong?

New CME Gap To Trigger Bitcoin Price Surge

As the CME Bitcoin futures market shut its doors on Friday around the $97,022 level, Bitcoin continued trading on platforms like Binance, slowly breaking downward throughout the weekend. This discrepancy has now created what traders call a CME gap.

According to Daan Crypto Trades, an analyst on X (formerly Twitter), historically, these gaps have shown a tendency to get filled within 1-3 days of CME’s reopening, with prices often retracing back to the gap level. The current setup indicates that if Bitcoin continues to hover near $95,400 as CME reopens, the market could soon see an upward move to fill the $1,600 gap.

This pattern is backed by a descending trendline on the analyst’s shared chart, indicating sustained bearish momentum over the weekend. Nonetheless, the presence of a CME gap above the trendline and the magnetic nature of such levels could prompt bulls to step in. 

Expanding on this analysis in a more recent X post, Daan Crypto Trades highlighted two major unfilled gaps on the Bitcoin CME Futures that could influence BTC’s short-term price direction. The first is the aforementioned new CME gap at $97,000 that emerged over the weekend. However, BTC’s price outlook is further complicated by an older, still unfilled CME gap between $91,000 and $92,000, which dates back nearly two weeks.

Since Bitcoin never revisited this older gap, the analyst suggests that it could still exert downward pressure on the price before any meaningful recovery toward filling the $97,000 CME gap. Currently hovering around $94,248, Bitcoin finds itself caught between these two unfilled gaps, creating a zone of uncertainty critical in defining its short-term trajectory. 

Analyst Confirms CME Gap Close At $97,000

In another post, Daan Crypto Trades revealed that Bitcoin is currently navigating a tight consolidation zone as it finds itself wedged between significant price levels, including the Daily, Weekly, Monthly, and Yearly Opens. These levels, historically crucial for BTC’s price action, often act as natural support and resistance zones, making them critical areas for the next significant move.

Bitcoin’s next big move will likely begin once it breaks out of this tight range. If the cryptocurrency rises above the Daily Open and previous highs, it could push toward $97,000 and probably close the CME gap situated there. On the other hand, if the price falls below the Yearly Open, it would reflect bearish momentum, which could trigger a drop toward $91,000 – $90,000.