Bitcoin Trades Above $115,000 Amid New CME Gap Concerns

Bitcoin is currently trading above $115,000, but a new CME futures gap has emerged, potentially indicating a bearish scenario. Such gaps often lead to Bitcoin retracing to fill them.

CME Gap Details

A significant CME gap exists between $110,000 and $111,300 as identified by Daan Crypto on social media.
Historically, these gaps tend to close quickly, which could result in bearish momentum if Bitcoin drops below $111,000.
The current bullish trend might be reversed if the gap is filled soon.

Implications for Bitcoin

CME gaps occur when the market opens at a different level after weekends, creating empty spaces on the chart.
If Bitcoin falls back to fill the gap, it risks moving back to uncertain pricing levels.
The price needs to stay above $115,000 with strong buying pressure to maintain upward momentum towards $120,000.

Bitcoin's price stands at $116,380, marking a 1.4% increase in the last 24 hours.