Bitcoin Price Fills Cme Gap, But '$240m Market Dump' Stops A $104k...

Bitcoin dropped to fill its latest futures gap at the Wall Street open, but whale selling pressure kept a BTC price rebound off the menu.

Bitcoin fills its weekend CME futures gap, but bulls struggle to produce a BTC price turnaround.

Analysis shows Bitcoin whales selling into price at local highs.

Derivatives traders continue to avoid risk with $100,000 still hanging in the balance.

Bitcoin (BTC) delivered a classic futures “gap fill” after Tuesday’s Wall Street open as traders demanded a rebound.

Data from Cointelegraph Markets Pro and TradingView showed that the BTC price action dipped further after hitting new November highs near $107,500.

That formed a key resistance zone that bulls were unable to overcome, with BTC/USD then reversing downward.

In doing so, the pair filled its latest weekend “gap” in the CME Group’s Bitcoin futures market, located at $104,000. As Cointelegraph reported, such gaps often form short-term targets for the BTC price.

“Another gap closed within the first few trading days of the week. This has become an incredibly reliable and predictable pattern by now,” trader Daan Crypto Trades wrote in a response on X.

With a rebound yet to occur, however, trading resource Material Indicators warned that a snap sell-off by Bitcoin whales worth $240 million had contributed to the comedown.

Source: CoinTelegraph