BTC targets CME gap at $104,000 as shutdown end buoys risk
Bitcoin is currently testing a significant CME futures gap between $104,160 and $110,370, buoyed by reduced fiscal uncertainty from the end of the US government shutdown.Summary
Bitcoin traders are focused on a $6,000 CME futures gap formed between Friday's close at $104,160 and Sunday's open at $110,370, with Bitcoin trading near $105,900, roughly in the middle of this range. This gap often attracts short-term price action, and historically, over two-thirds of CME gaps since 2022 have closed within 48 hours. The gap appeared as risk assets rallied over the weekend, driven by positive sentiment following progress in ending the US government shutdown, which weakened the dollar and eased Treasury yields.
Key levels for intraday trading revolve around this range. A decisive move below $104,000 could trigger selling pressure toward $102,000-$103,000 liquidity zones. Conversely, holding above $106,000-$107,000 would suggest resilience and might allow futures to realign with spot prices without a deep retracement into the gap.
Previous episodes involving CME gaps have typically compressed volatility before the prior trend resumes. As the US market opens, the key question is whether the risk-on tone from the shutdown resolution provides enough momentum to keep Bitcoin away from revisiting the full $104k-$110k range, or if the futures magnet pulls the price back to fill the void.
(Source：CryptoSlate)