Bitcoin Slides 2.5% to Fill CME Futures Gap, Eyes $100K Support
Bitcoin price slipped 2.5% to around $107,460 as traders focused on filling a weekend CME futures gap at $107,390. Such gaps form when futures close on Friday and reopen on Monday at a different level, often getting revisited within days. Despite closing a previous $110,000 gap before last week’s all-time high, low trading volume on recent rebounds is raising concerns. Analysts like Daan Crypto Trades warn bulls must defend the $107,000–$108,000 range to avoid further weakness. Trader Roman warns of a slide toward $100,000–$98,000 if volume fails to confirm support, while Ted Pillows and Crypto Tony foresee a test of $95,000. Falling trading volume and imminent gap fills signal short-term bearish pressure, making $100,000 a key support level for traders.
Bearish
The decline in Bitcoin price to fill the CME futures gap, combined with low trading volume and trader warnings, signals short-term bearish pressure. Failure to defend the $107,000–$108,000 range and the prospect of retesting support at $100,000 or even $95,000 underscore a negative outlook. While previous gap fills preceded new highs, current market momentum remains weak, suggesting traders should prepare for potential further downside before any recovery.