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Bitcoin Tests Key Support as CME Exchange Gap Gets Filled
Bitcoin Tests Key Support as CME Exchange Gap Gets Filled
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CME exchange News -
Bitcoin's price continues trading within a bearish descending channel pattern established after its May 22 all-time high of $112,000. The cryptocurrency recently completed a 10% pullback to $105,000, closing a CME futures gap - a technical occurrence where prices revisit untraded ranges from exchange closures.
On-chain data reveals underlying strength despite the correction. According to Glassnode, BTC remains above its 1-month realized price floor of $105,600, with short-term holders still in profit. The decreasing intensity of sell-offs suggests weakening bearish momentum.
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