Bitcoin has dropped to as low as $58,000 in the last 24 hours, having failed to once again hold above the crucial support at $60,000. Different analysts have suggested that the CME gap caused this price decline and that BTC could enjoy a relief bounce going forward.
The CME Gap Caused Bitcoin To Decline Below $60,000
Crypto analyst Daan Crypto hinted in an X (formerly Twitter) post that Bitcoin experienced this recent price decline to close the CME gap around the $60,000 range. The CME gap is the difference between BTC’s price on the Chicago Mercantile Exchange (CME) futures market between when the market closed on Friday and reopened on Monday.
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While sharing a chart of Bitcoin CME futures, crypto analyst Speed Racer also alluded to the CME gap as responsible for Bitcoin’s recent decline. He stated that the market makers were running the BTC market in the short ter
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