{"id":34765,"date":"2025-07-02T10:31:50","date_gmt":"2025-07-02T10:31:50","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=34765"},"modified":"2025-07-02T10:31:50","modified_gmt":"2025-07-02T10:31:50","slug":"bitcoin-trades-within-descending-channel-as-cme-gap-gets-filled","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=34765","title":{"rendered":"Bitcoin Trades Within Descending Channel as CME Gap Gets Filled"},"content":{"rendered":"
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Bitcoin (BTC) is currently moving within a descending channel a persistent bearish structure that began on May 22, when it hit a high of $112,000. After reaching this level, the price fell about 10% to around $100,000. <\/p>\n

It then made a lower high at $110,000 on June 10, which was followed by a roughly 10% correction, taking it slightly below $100,000 during market reactions tied to the U.S.-Iran conflict<\/a>. <\/p>\n

As of June 30, bitcoin reached around $109,000 before pulling back about 3%, but has since recovered to nearly $108,000. The recent dips appear to be getting shallower.<\/p>\n

During the latest dip, there was a CME futures gap<\/a> around $106,000, which was \u201cfilled\u201d as bitcoin dropped to around $105,000. A CME gap occurs when the Chicago Mercantile Exchange closes for the weekend or overnight and bitcoin\u2019s price moves significantly during that time, leaving a price range on the CME chart where no trading took place, which markets often tend to revisit to \u201cfill\u201d the gap.<\/p>\n

According to Glassnode data<\/a>, bitcoin\u2019s pullbacks remain relatively shallow and the price is still trading above its 1-month realized price, which represents the average price investors paid over the past 30 days. <\/p>\n

In the past 24 hours, investors have an average cost basis of $105,600, while the one-week group sits at $106,300. These short-term holder cohorts are still in profit, which supports market momentum, although continued profit-taking<\/a> could make it more challenging for bitcoin to reach new all-time highs.<\/p>\n

Read more: Bitcoin CME Futures Premium Slides, Suggests Waning Institutional Appetite<\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) is currently moving within a descending channel a persistent bearish structure that began on May 22, when it hit a high of $112,000. After reaching this level, the price fell about 10% to around $100,000. It then made a lower high at $110,000 on June 10, which was followed by a roughly 10% […]<\/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-34765","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\/34765","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=34765"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/34765\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}