Bitcoin’s historical price behavior suggests that the recently formed CME gap in the $84,000–$85,000 range may soon be filled.
Over the weekend, Bitcoin (BTC) climbed to a high of $87,800 by Monday, creating a new gap between the CME futures’ closing price on Friday and the opening price of the new trading session.
CME futures ended last week at $84,190 and resumed trading at $85,160, opening nearly $1,000 higher. This price disparity raises the probability of a near-term retracement, as Bitcoin has frequently corrected to close CME futures gaps in past market cycles.
A similar gap was filled in mid-March when Bitcoin retraced to $76,700, erasing the gap formed during its November rally following Donald Trump’s election victory.
These price gaps arise because the spot Bitcoin market operates 24/7, whereas CME futures are only available 23 hours a day from Sunday to Friday. When significant price changes occur outside CME trading hours, gaps appear between one session’s close and the next session’s open.
Given Bitcoin’s well-documented tendency to revisit these levels, the $84,000–$85,000 range could soon be retested.
