Bitcoin Price Drops to $76,700, Fully Closing CME Futures Gap
Bitcoin's price on CME futures reached a low of $76,700, filling the gap created on November 5 after the U.S. elections. The gap ranged from $77,930 to $80,600.
- In February, Bitcoin briefly fell to approximately $78,500, partially filling the gap.
- The lowest point of the gap was $77,400.
- CME futures trade 23 hours a day, while spot markets operate 24/7.
- Gaps occur due to differences between closing prices in futures and opening prices the next day.
- Research indicates that out of the last 80 CME futures gaps, all but one have been filled.
- One remaining gap exists between $84,200 and $85,900.