Bitcoin Completes Weekly CME Gap - Echoing ’s Bullish Reversal Pattern, $130K Target in Sight?

Bitcoin just executed a textbook technical move that has bulls buzzing with anticipation.

The CME Gap Fill Phenomenon

That elusive weekly gap on the CME charts? Filled. And history suggests this could be the precursor to something massive. The pattern mirrors the exact setup that triggered Bitcoin's explosive 2024 rally - back when skeptics called the $60K predictions pure fantasy.

Technical Déjà Vu

Chart analysts are seeing uncanny similarities to the 2024 reversal pattern that caught traditional finance completely off guard. Same gap-fill mechanics, same momentum indicators flashing green, same institutional money quietly positioning on the sidelines. Because nothing says 'hedge against inflation' like an asset that moves 10% before your morning coffee.

The $130K Question

Could this be the launch sequence for Bitcoin's next major leg up? The technicals suggest yes, the fundamentals support it, and the market structure looks eerily familiar. Wall Street analysts might still be writing reports about 'digital tulips' while their clients secretly allocate another 5% to crypto.

History doesn't repeat, but it often rhymes - and right now, Bitcoin's chart is writing poetry.

Bitcoin Market Sentiment Hits 2017 Lows

Crypto traders who have been around since late 2017 say morale is at one of its lowest points in years.

Sentiment in major chat rooms is showing exhaustion and doubt, with many convinced the cycle has ended. Even seasoned traders admit to underperforming this year compared to 2020–2021. Coupled with last Friday’s brutal wipeout, the market feels like a ghost town.

These factors have fueled speculation that Bitcoin topped out after hitting $126,000 ten days ago.

However, both technical patterns and macroeconomic indicators suggest otherwise.

Bitcoin’s funding rate on Binance flipped negative this week, a rare occurrence that has historically marked local bottoms and preceded major rallies.

On-chain data also shows large spot exchange outflows, indicating quiet accumulation amid widespread fear.

Gold Indicator Shows Bitcoin Is About to Steal the Spotlight

Meanwhile, Gold has outperformed Bitcoin since March, rising 28.12% compared to Bitcoin’s 4.42% decline.

Historically, Bitcoin tends to take the baton from gold once the metal’s rally becomes overextended.

With gold’s RSI hitting an unprecedented 92 and retail investors queuing for physical purchases, the yellow metal may be approaching exhaustion.

The last three instances when gold led, August 2020, September 2024, and early April 2025, were followed by massive Bitcoin rallies.

In 2020, Bitcoin surged from $9,500 to over $45,000 within two months after gold peaked.

If this pattern holds, the current environment could be setting up for another post-gold rotation, potentially propelling Bitcoin toward the $130,000 zone by year-end.

Bitcoin’s monthly Bollinger Bands continue to expand to the most extreme levels ever recorded.

Every historical expansion of this magnitude has led to higher prices, pointing more to a growing volatility that often precedes upside moves.

Additionally, this marks only the third time in six years that Bitcoin has traded negatively halfway through October. On all six previous occasions, BTC closed the month green by October 31.

On the Macro front, CME data indicates a 96.7% probability of a Federal Reserve rate cut later this month, marking the Fed’s first easing MOVE in over a year.

Lower borrowing costs typically lead to greater liquidity and stronger risk-on appetite, a scenario that historically benefits Bitcoin.

$132K or Sub-$110K? Expert Maps Bitcoin’s Two Possible Paths

Farzam Ehsani, co-founder and CEO of VALR, told Cryptonews that while the Fed’s dovish stance and rising liquidity are constructive for digital assets, renewed U.S.–China trade frictions and prolonged U.S. government shutdown risks could complicate near-term sentiment.

JUST IN:China says it plans to work with the United States to find a solution on trade. pic.twitter.com/0sWWayQCO5

He pointed to the growing alignment between gold and Bitcoin, noting that “investors increasingly view both Bitcoin and Gold as hard assets hedging against fiscal risks, sovereign debt concerns, and policy uncertainty.”

Ehsani concludes that Bitcoin stands at a key crossroads.“If liquidity tailwinds materialize and institutional accumulation continues, BTC could strengthen toward $132,000 by year-end.”

However, should macro risks resurface or trade tensions escalate, a move below $110,000 remains possible as markets recalibrate.