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Bitcoin Fills Yet Another CME Futures Gap as BTC Price Dropped to $76,700
Another unfilled CME futures gap occurs between $84,200 and $85,900.
What to know:
- CME Bitcoin futures gaps occur due to limited trading hours, unlike bitcoin spot markets, which operate 24/7.
- Monday's market drop saw bitcoin officially fill the CME gap at around $77,930.
- A final unfilled CME gap remains between $84,200 and $85,900.
Bitcoin's (BTC) price on CME futures dropped to a low of around $76,700 on Monday, officially filling the CME futures gap that was created on Nov. 5, when President Trump won the U.S. election.
At the end of February, bitcoin (BTC) briefly fell to approximately $78,500, partially filling the gap, as the lowest point of the gap was $77,400. However, since CME futures only dropped to around $78,500 at that time, the gap remained partially open. With Monday's decline to $76,700, the gap—ranging from $77,930 to $80,600—has now been fully closed.
STORY CONTINUES BELOW
For context, CME bitcoin futures trade 23 hours a day, from Sunday through Friday, whereas bitcoin spot markets trade 24/7. Gaps occur when there is a difference between the futures market closing price and the opening price for the next day due to the absence of trading activity during off-hours.
CoinDesk research noted that out of the previous 80 CME futures gaps, all but one have eventually been filled. As for remaining gaps, one still exists between $84,200 and $85,900.
James Van Straten
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin's role within the broader financial system.
In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin, MicroStrategy (MSTR), and Semler Scientific (SMLR).
