Bitcoin broke above $90,000 over the weekend, opening another gap in the CME futures market.
Bitcoin (BTC) rallied almost 10% on March 2, boosted by President Donald Trump’s announcement of a U.S. crypto reserve, which would include BTC, Ethereum (ETH), (XRP), Solana (SOL), and Cardano (ADA).
The surge in BTC’s spot price from approximately $84,000 to $90,700 created a gap in March futures, according to CME data. Futures gaps are non-traded zones where no transactions occur between market sessions.
On Monday, March 2, BTC climbed to $95,000, widening the CME futures gap to roughly $9,200. By press time, the gap had narrowed to around $6,000.
Gaps typically form due to shifts in market sentiment, and they are often filled over time as orders accumulate within these empty zones. The previous gap, which was just $4,300 wide, appeared in November and was filled during last week’s crypto sell-off.
As the BTC market adjusts, CME futures suggest prices may revisit $84,000 and consolidate within the gap. BTC could also face further downside despite the recent recovery. According to TradingView data, BTC/USDT open interest on Binance traded at $72,830, $18,000 below spot and futures prices.
Source link
