Unfilled price gaps in CME Bitcoin futures and ETFs are emerging as critical reference points for potential retracements
Bitcoin (BTC) is showing signs of weakness, approaching the $91,000 level as traders focus on unfilled CME futures gaps as key technical markers. These gaps, formed when CME futures markets close over weekends, are closely monitored because Bitcoin has historically retraced to “fill” them.
A recent weekend gap formed after CME Bitcoin futures closed near $90,600 on Friday and reopened around $91,600 on Sunday. This leaves an untraded price range just below current levels, making $90,600 and $88,000 significant downside reference points. Historically, gaps tend to be filled within days, though some remain open longer, creating self-reinforcing technical gravity that influences trader behavior.
Gaps are also emerging in BlackRock’s iShares Bitcoin Trust (IBIT), with open ranges near $48 and $50. As IBIT gains influence, ETF trading patterns increasingly reflect futures-based technical behavior, adding another layer of reference for market participants.
As of the latest data, CME Bitcoin futures trade near $91,900, implying a 1.6% drop to fill the nearest weekend gap and a 4% decline to reach the lower $88,000 level. Traders will watch these technical gaps closely for potential retracement opportunities and market guidance.
This dynamic underscores the growing role of futures and ETF pricing structures in shaping Bitcoin’s short-term price action.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.