Bitcoin
He can be fighting gravity after an increase during the weekend led him to a surprising distance of his maximum of $ 123,000 of all time, while he left a gap in the price of CME futures between the closing price of Friday and the Monday open.
CME Bitcoin Futures, cash contracts that track the price of the largest cryptocurrency, settled at $ 117,430 on Friday, only to open Monday at $ 119,000. Historically, Bitcoin has shown a tendency to fill these gaps, which means that the price is often re -focused the difference between the two levels. This can happen in a few days or even a few hours after the formation of the gap.
“Most of the previous gaps that were created closed on the same day, but it moved a little beyond them,” said Daan Crypto Trades, a cryptography merchant and investor, in a publication about X.
Unlike Spot Markets, which are negotiated throughout the day, CME futures operate from Sunday night until Friday night for 23 hours a day. Any significant price movement during the daily break of an hour or during the weekend can create what merchants call a CME gap.
Daan said that Bitcoin is now close to the price discovery, a market phase that begins when an asset exceeds its maximum of all time and quotes in unknown territory. In such situations, the holes can become instances of “runaway spaces” in which the impulse is so strong that the market continues to tend in the same direction without returning to fill the void, at least in the short term.
“I would recommend watching this gap,” said Daan. “If the price closed it, it could be a decent investment area. But I would not completely bet the closure until the price obtains at least one proximity one to two percent again, below $ 120,000 more or less.”
When addressing the United States Open on Monday, merchants will closely observe if the gap begins to close or if the Bitcoin’s upward impulse transports it directly beyond $ 123,000 in new maximums of all time, which could leave the gap at least for now.
