Bitcoin Fills CME Futures Price Gap After Drop to $84,500
Bitcoin's CME futures gap was fully filled following a significant price surge. Key points include:
- Bitcoin reached $92,000 on Monday after U.S. President Trump's announcement of a strategic crypto reserve.
- A gap occurred between Friday’s close at $84,500 and Monday’s open at $95,300, which was filled as BTC retraced to $83,500 on Tuesday.
- CME gaps historically act as magnets for bitcoin prices, often signaling corrections post sharp moves.
- Over $900 million in bullish bets were liquidated in the past 24 hours, with three-day losses exceeding $1.5 billion.
- Liquidations indicate traders could not meet margin requirements due to the price reversal.
- A bearish range breakdown is now focusing on another gap below $80,000 that has been under scrutiny since it formed three months ago.