Here’s Why Bitcoin Might Not Dip to $9,600 to Fill the CME Gap

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Bitcoin has held above $10,000 with extreme accuracy over the past few days. The cryptocurrency has bounced from the $9,900 region back to $10,000 on at least seven separate occasions over the past week. Bitcoin’s ability to hold so well has left some wondering if it will ever fill the CME futures gap at $9,600. BTC’s futures market on the CME does not trade on weekends, meaning gaps fill between price action on the weekdays. These gaps are often filled by BTC for some unexplained reason. If Bitcoin doesn’t close the $9,600 gap, this will be one of the first daily CME gaps that haven’t closed. While nearly unprecedented, analysts think this is a possibility for the cryptocurrency. Bitcoin May Not Drop to Fill the CME Gap Because the CME’s Bitcoin futures market doesn’t trade on weekends, there is often a gap formed between each week’s price action. For some…

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