Bitcoin futures on the Chicago Mercantile Exchange (CME) reached a record high, creating a $10,350 price gap—the largest in the exchange’s history. This significant gap occurred when Bitcoin futures closed at $84,650 and opened the next session at $95,000, according to data from TradingView on March 2.
This gap far exceeds the previous record set in August 2024, which saw a gap just over $4,000.
What Causes a CME Gap?
A CME gap happens because Bitcoin trades 24/7 on global cryptocurrency markets, while CME futures pause during weekends. If Bitcoin’s price moves significantly over the weekend, a gap forms between Friday’s closing price and Sunday evening’s opening price.
These gaps are closely watched by traders because Bitcoin has a historical tendency to “fill” them, meaning that its price usually returns to the level of the gap before continuing its movement in either direction. This phenomenon occurs due to liquidity imbalances, as institutional traders often place orders around these untraded price zones.
Trump’s Announcement Drives Bitcoin Surge
The most recent CME gap emerged after a surge in Bitcoin’s price, from $85,000 to nearly $95,000, triggered by President Trump’s announcement of a U.S. Crypto Strategic Reserve on March 2. This news added over $300 billion to the spot markets, boosting both Bitcoin and altcoins.
Although Bitcoin has already filled a previous gap between $92,800 and $94,000, this movement created a much larger gap between $84,650 and $94,000. Many traders anticipate that Bitcoin will eventually return to these levels, although it could take weeks or even months.
Will Bitcoin Fill the Gap?
Historical trends suggest that large gaps tend to fill eventually, but the timing remains unpredictable. In the 2021 bull market, some gaps only closed during the subsequent bear market. While Bitcoin is still on an uptrend, traders are now watching closely to see if the market will retrace and fill the current gap, indicating a potential price correction.
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