Bitcoin Futures Gap Filled as Price Declines
On Monday, the price of Bitcoin (BTC) on CME futures experienced a notable decline, reaching a low of approximately $76,700. This movement effectively closed the CME futures gap that had been established on November 5, coinciding with President Trump’s election victory. Previously, at the end of February, Bitcoin’s price had briefly dipped to about $78,500, which only partially addressed the gap, as the lowest threshold of that gap was marked at $77,400.
At that time, the CME futures had not fully filled the gap since they only dropped to around $78,500. However, with Monday’s significant drop to $76,700, the gap—which spans from $77,930 to $80,600—has now been completely filled.
For context, it is important to note that CME bitcoin futures operate for 23 hours a day, from Sunday through Friday, while the spot markets for Bitcoin are available around the clock, 24/7. Gaps in the market typically occur when there is a discrepancy between the closing price of futures and the opening price for the following day, primarily due to the lack of trading activity during off-hours.
According to research conducted by CoinDesk, a remarkable statistic reveals that out of the last 80 CME futures gaps, nearly all—except for one—have eventually been filled. As it stands, there remains an open gap between $84,200 and $85,900, leaving traders and investors keenly aware of potential future price movements.
