{"id":15993,"date":"2025-03-04T03:31:49","date_gmt":"2025-03-04T03:31:49","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=15993"},"modified":"2025-03-04T03:31:49","modified_gmt":"2025-03-04T03:31:49","slug":"bitcoin-forms-major-cme-gap-in-volatile-weekend-price-action-analysts-discuss","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=15993","title":{"rendered":"Bitcoin Forms Major CME Gap In Volatile Weekend Price Action, Analysts Discuss"},"content":{"rendered":"
\n

Although Bitcoin (BTC) managed to recover most of its losses over the weekend after tumbling as low as $78,258 on February 28, the premier cryptocurrency has created a massive new Chicago Mercantile Exchange (CME) gap, raising concerns that the digital asset may witness another pullback to the low $80,000 level.<\/p>\n

Bitcoin Not Out Of The Woods Yet<\/h2>\n

According to an X post<\/a> by crypto analyst Rekt Capital, BTC filled two key CME gaps over the weekend \u2013 one between $78,000 and $80,700, and another between $92,800 and $94,000. The wide range of prices reflects the extreme volatility witnessed by the top cryptocurrency over the weekend.<\/p>\n

As a result of this volatile price action, BTC has now created a new, massive CME gap between $84,650 and $93,300. Rekt Capital added that while the bottom may have been reached at $78,258 during the downside deviation, it does not necessarily mean that BTC won\u2019t revisit that price level.<\/p>\n

\"rekt\"<\/p>\n

For the uninitiated, a Bitcoin CME gap is the price difference between Bitcoin\u2019s closing price on the CME futures market and its opening price the next day, created because the CME closes over the weekend while the spot market continues to trade. Past data indicates that CME gaps often work as price magnets.<\/p>\n

That said, even if BTC hits the lower end of the latest CME gap at $84,650, it would still constitute a higher low relative to Friday\u2019s low of $78,258. Rekt Capital concluded<\/a> by saying that as long as BTC holds the macro support at $93,500, \u201cany short-term downside volatility will only present opportunities.\u201d<\/p>\n

Fellow crypto trader Merlijn The Trader remarked<\/a> that \u201cvolatility is about to go parabolic\u201d following the creation of the new massive CME gap. According to data<\/a> from Coinglass, heightened price volatility has already led to liquidations worth over $900 million in the past 24 hours.<\/p>\n

Another crypto analyst, Will, noted<\/a> that the general sentiment around BTC is too euphoric for a retest of a previous accumulation range. The analyst added that they are eyeing the mid $70,000 range to accumulate BTC.<\/p>\n

\"will\"<\/p>\n

Analyst Suggests More Downside For BTC<\/h2>\n

While BTC currently trades close to the $90,000 level, analysts believe that the top digital currency by market cap could slip to $74,700. Crypto analyst Ali Martinez recently highlighted<\/a> that historically, BTC tends to rebound from long-term support levels, which currently sit in the mid $70,000 range.<\/p>\n

In related news, Coinbase analysts remarked<\/a> that BTC\u2019s price is struggling due to the absence of any major near-term positive catalysts. In particular, the recent Bybit hack and heightened macroeconomic uncertainties are likely contributing to BTC\u2019s woes.<\/p>\n

On a positive note, spot Bitcoin exchange-traded funds (ETFs) are finally starting<\/a> to see net inflows once again. At press time, BTC is trading at $90,170, down 1.5% in the past 24 hours.<\/p>\n

\"bitcoin\"<\/div>\n","protected":false},"excerpt":{"rendered":"

Although Bitcoin (BTC) managed to recover most of its losses over the weekend after tumbling as low as $78,258 on February 28, the premier cryptocurrency has created a massive new Chicago Mercantile Exchange (CME) gap, raising concerns that the digital asset may witness another pullback to the low $80,000 level. Bitcoin Not Out Of The […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-15993","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/15993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15993"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/15993\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}