Bitcoin Eyes $104,000 CME Gap After Weekend Rally

Bitcoin traders are focused on a CME futures gap appearing between Friday’s close at $104,160 and Sunday’s open at $110,370, following a weekend surge. This roughly six-thousand-dollar difference often prompts short-term price movements. Bitcoin is currently trading near $105,900, and traders are observing whether the market will fill the gap or move higher.

CME Bitcoin futures trading pauses on Friday and resumes Sunday evening, potentially creating chart gaps when significant price changes occur during this period. Historically, over two-thirds of CME gaps since 2022 have closed within 48 hours.

The latest gap emerged amid a weekend rally spurred by improved sentiment in risk assets. Progress in Washington toward ending the government shutdown reduced fiscal uncertainty, boosting equities, crypto, and gold.

Dollar weakness and easing Treasury yields in early European trade further contributed to the positive risk environment.

On charts, the CME gap band spans from $104,160 to $110,370, positioning the current spot price roughly halfway within it. A move below $104,000 could trigger short-term selling pressure toward $102,000-$103,000, where liquidity is concentrated on Coinbase.

Conversely, maintaining levels above $106,000-$107,000 could indicate resilience and potentially realign futures with the spot price.

Since late summer, the CME has recorded four significant weekend gaps. Three closed within 24-48 hours, while one, in early September, remained open for over a week. These events tend to temporarily compress volatility before the prior trend resumes.

As the US market prepares to open, traders are evaluating whether the shutdown resolution and risk-on sentiment will sustain upward momentum or if futures activity will draw Bitcoin back into the $104,000-$110,000 range.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.