Bitcoin enthusiasts received quite a jolt today as the leading cryptocurrency dipped below the $80,000 mark for the first time in over three months. Can you believe it? A low of $78,258 was recorded, which notably filled the Chicago Mercantile Exchange (CME) gap between $78,000 and $80,000. If you’ve been keeping an eye on Bitcoin trends, you’ll know that filling CME gaps is often viewed as a significant indicator of potential price movements. As we delve into the factors influencing this latest downturn—the ongoing geopolitical pressures, recent tariffs, and macroeconomic uncertainties—one question lingers: are we on the brink of a reversal? Or is this merely a brief dip in an ongoing corrective phase? Let’s explore the implications and what they might mean for your crypto strategy! LEARN MORE
Earlier today, Bitcoin (BTC) dropped below $80,000 for the first time in over three months. According to data from Binance, BTC hit a low of $78,258, filling the Chicago Mercantile Exchange (CME) gap between $78,000 and $80,000.
Bitcoin Fills CME Gap, Is It Time For Rebound?
With today’s dip, BTC has now filled every CME gap since March 2024. At the time of writing, the leading cryptocurrency is trading in the low $80,000 range.
Related Reading
For the uninitiated, the CME gap refers to the price difference that occurs on the CME Bitcoin futures chart between Friday’s closing price and Monday’s opening price, as CME does not trade on weekends. These gaps are often filled later as Bitcoin’s price naturally retraces to these levels, acting as key support or resistance zones.
Post Comment