Bitcoin Trades at $108,200, 8% Below CME Gap Before Monthly Close

The Bitcoin market is consolidating around $108,000 after a turbulent weekend, approximately 14% below its all-time high of about $124,457. Investor sentiment remains neutral as many await bullish signals for recovery.

Bitcoin’s 98% CME Gap Fill Rate Sets Up $116K Recovery Potential

Analyst KillaXBT predicts a price bounce for Bitcoin, citing a CME gap from the previous weekend. Key points include:

CME halts Bitcoin futures trading every weekend, creating gaps when prices change significantly.
Last weekend, Bitcoin closed at $116,939 and opened at $112,600, creating a $4,300 gap.
Historically, 98% of weekend CME gaps have been filled since Bitcoin traded at $16,000, indicating a potential 8% upside to around $116,939.
A monthly close is approaching, often leading to volatility and institutional rebalancing.

Bitcoin Market Outlook

KillaXBT is optimistic about Bitcoin's future, noting:

$5 billion was printed in under a week, historically preceding major upward movements.
Current downward pressure is seen as a leverage flush ahead of the monthly close.
Referencing past cycles, he suggests another 30–45 days may lead to a price top.
Support lies between $106,000 and $107,000; a drop below $100,000 would invalidate this outlook.

Currently, Bitcoin trades at $107,954, down 3.44% in the past day.