Bitcoin price taps $116K as analysis weighs odds of CME gap fill
Cointelegraph
Bitcoin briefly hit $116,000 amid volatility ahead of the FOMC meeting, with analysts debating short-term direction and a potential CME futures gap fill.Summary
Bitcoin experienced significant fluctuation, reaching $116,077 as the US trading session opened, defying the typical pre-major inflation event downtrend ahead of the Federal Reserve's interest-rate decision. Analysts are divided on the immediate future of BTC. Michaël van de Poppe suggested the market might be bottoming out for an uptrend, noting a potential inverse correlation with falling gold prices. Conversely, other traders, like Killa, anticipated a local top near $117,000 before a likely retracement to fill the recent CME futures gap around $111,000. Concerns remain regarding low trading volume and bearish divergences, which cast doubt on the sustainability of the current bull run toward new all-time highs.
(Source：Cointelegraph)