Since the start of 2025, Bitcoin's price has fluctuated dramatically, with a recent decline to $89,600 prompting speculation about filling a CME Bitcoin futures gap below $80,000. This gap, formed between Nov. 9 and Nov. 10, saw futures rise 3.8% from $77,900 to $80,900. Traders focus on CME gaps due to their unique nature in response to spot price movements over weekends. Experts anticipate the gap will be addressed, especially if macroeconomic conditions worsen, specifically if the 10-year bond yield surpasses 4.7%. Analyzing current dynamics, if the market struggles to sustain levels above $90K, a corrective move toward the gap at $78K could occur. The likelihood of this scenario is supported by technical analysis indicating potential downside pressure, particularly if the 50-day SMA on CME futures is breached. Bitcoin is currently trading 9% above the short-term holder cost basis, but a lack of upward momentum may lead to increased selling pressure, potentially lowering prices toward $74,500.

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