Bitcoin Futures Record Largest CME Gap

Bitcoin futures recorded its largest-ever CME gap, a result of significant price movement following U.S. President Donald Trump’s surprise announcement of a national crypto reserve.

The gap exceeding $10,000 raises questions about Bitcoin’s next movements: will it fill this gap or maintain its upward momentum?

Bitcoin Futures: Importance of CME Gaps

CME Bitcoin futures gaps arise when the futures market closes for the weekend while spot markets are still open, creating price discrepancies upon reopening. These gaps often act as psychological levels for traders, and historical trends suggest Bitcoin may revisit them.

The latest gap, between $84,650 and $94,000, is unprecedented; the previous record was just over $4,000 in August 2024. Market analysts debate whether Bitcoin will retrace to fill this gap or continue its ascent.

Bitcoin’s Surge and Key Levels

Bitcoin rose from around $85,000 to $94,480 on March 2, spurred by Trump’s announcement and increasing institutional interest. This sharp rise resulted in the historic $10,000 CME gap.

As of now, BTC is trading at $91,963, reflecting a 2.50% decline in the past 24 hours. With an RSI of 47.04, momentum appears neutral after recent volatility, while the OBV at -92.19K indicates that buying pressure has not yet fully returned.

Bitcoin remains above the crucial psychological level of $90,000. Increased selling pressure could lead to a drop towards $85,000, which may serve as robust support. Conversely, if it maintains momentum, a retest of the resistance between $94,000-$95,000 could signal further upside.

Typically, large CME gaps get filled over time, though not always immediately. During the 2021 Bitcoin bull run, several gaps remained open until the ensuing bear market. This leads to the speculation that if Bitcoin continues its rally, the $10,000 gap may stay unfilled for an extended period.