Bitcoin opened the week sharply lower, with CME futures trading significantly below Friday's close, registering a substantial price gap of around $2,940. Futures opened at $86,560 after closing the previous session at $89,500, reflecting heavy selling over the weekend while the spot Bitcoin market remained active.
These gaps typically occur due to the difference in trading hours between Bitcoin spot, which operates 24/7, and CME futures contracts, which have fixed trading hours. This means that significant volatility over the weekend manifests as noticeable gaps upon reopening. The recent decline was one of the most prominent gaps this month.
Analysts differ on the market's trajectory. Some believe the current decline is merely a temporary correction following the mid-month rally, with the potential for the gap to be filled once buying pressure returns. Others, however, warn that breaking key price levels could push prices further down before any sustained recovery can occur.
