Analysts have confirmed that the gap in Bitcoin’s Chicago Mercantile Exchange (CME) has been filled, suggesting a potential surge in Bitcoin prices, breaking the $72,000 mark.
The recent price movements of Bitcoin (BTC) have garnered significant attention as it attempts to close the futures gap on the Chicago Mercantile Exchange (CME).
The Bitcoin CME gap arises due to the trading hours of CME, which closes over the weekend from Friday night to Sunday night. During this period, Bitcoin continues to trade on other exchanges, potentially leading to price disparities.
Bitcoin CME gap closure
When the Chicago Mercantile Exchange reopens, Bitcoin futures prices typically “gap” up or down to align with the weekend trading prices of Bitcoin spot. This difference between the Friday closing price and Sunday opening price triggers the gap on the Bitcoin Chicago Mercantile Exchange.
Over the weekend, this disparity reappeared. However, analysts now unanimously believe that this gap has been filled, resulting in diverging predictions for the trajectory of BTC prices.
For instance, Crypto Titan has confirmed the narrowing of the gap in a recent post. This perspective is supported by charts, which illustrate the gap between the peak price of $61,155 on Friday, June 18, and the opening price of $62,085 on Monday, July 1. Following the initial downward movement after the gap, prices are expected to reverse and begin an upward trend, possibly nearing $72,000.
#Bitcoin Chicago Mercantile Exchange futures gap filled! ✔️
