According to Velo data, Mondays have averaged negative returns over the past month. However, this Monday started in the green as bitcoin surpassed $106,000, reclaiming a key technical level: the 365-day moving average, which has acted as important long-term support throughout this cycle. That moving average currently sits near $102,444.
However, a small gap has formed on the Chicago Mercantile Exchange (CME) around $104,170 in weekend trading. A CME gap occurs when the price of bitcoin on CME futures opens above or below where it closed the previous session, usually over the weekend when the CME markets are closed.
Historically, these gaps often “fill” as price action revisits those levels, suggesting a short-term bearish target, although the broader narrative has turned bullish amid expectations that the US government shutdown could end as soon as this week.
As a result of bitcoin’s rally on Monday, cryptocurrency-related stocks rose in pre-market trading. AI-Linked Cryptocurrency Stocks Lead Gains.
Galaxy Digital (GLXY) is up 5% to $33, IREN (IREN) is up 7% to $66 and Cipher Mining (CIFR) is trading around $21, up 5%.
Meanwhile, pure bitcoin treasury bets are also gaining traction. Strategy (MSTR) rose 3% premarket to $248, while Metaplanet (3350) closed Monday’s session up 3% at 427 yen.
Elsewhere in the market, gold is up 2% to $4,079, and silver is nearing the $50 mark, up 3.3%. The US Dollar Index (DXY) continues to hover around the 100 benchmark, while US 10-year Treasury yields have climbed back above 4.1%.
