Bitcoin experiences a sharp drop to $78k following Trump's tariff move, filling the CME gap formed early November.
Sharp Drop in Bitcoin Prices
On November 11, Bitcoin CME futures opened with a gap over 3.5%, pushed the price from $77,360 to $81,210 over the weekend. This gap is now filled after three and a half months, with the price dropping by 8% in the past 24 hours.
CME Gaps History
Historically, Bitcoin has been seen to round trip to fill CME gaps. The current gap suggests a potential upward trend, as Bitcoin is trading near $80,500 today, marking a multi-month low of $78,452, a fall of over 27% since the all-time high of $109,114 on January 20.
Future Prospects for Bitcoin
While filling the CME gap signals short-term resolution of price inefficiency, the next potential BTC movement depends on the interplay of technical levels, market sentiment, and trading volume.
Although filling the CME gap resolves short-term uncertainty, Bitcoin's future movements depend on market shifts and technical analysis.
