Bitcoin’s price under CME futures fell to approximately $76,700 on Monday, effectively closing the gap established on November 5 when past U.S. President Trump won the election.
In February, Bitcoin had experienced a minor drop to $78,500, only partially addressing the gap which is set between $77,400 and $84,900. The definitive closing was achieved when the price fell to $76,700 last week.
Key Points:
- CME Bitcoin futures gaps arise due to limited trading hours, contrasting with the always-open Bitcoin spot markets.
- The previous trading drop allowed Bitcoin to officially fill the CME gap at around $77,930.
- An additional open gap is noted between $84,200 and $85,900.
For further context, while CME bitcoin futures are in operation for 23 hours daily from Sunday to Friday, the Bitcoin spot markets function round the clock, which can sometimes create discrepancies in pricing during off-hours.
Research highlighted that historically, almost all CME futures gaps have been filled. This data enhances the understanding of Bitcoin’s market dynamics and pricing behavior.
