Bitcoin Needs To Fill $110,000 CME Gap, Analysis Argues

Bitcoin reached $114,000 at the Wall Street open, but a CME gap prompted caution among traders who foresee a potential correction to $110,000. Despite a daily gain of 1.5%, the presence of this gap is seen as a bearish indicator, with some analysts suggesting it typically acts as a price magnet that needs to be filled. Crypto investor Ted Pillows noted that Bitcoin has filled every CME gap in the past four months. Experts also highlighted that for Bitcoin to maintain upward momentum, it must reclaim levels above $115,000. Liquidity concerns were raised, indicating that the market could become volatile around the upcoming weekly and monthly closes. With rising tensions in the macroeconomic environment, traders are closely watching developments, especially in correlation with gold and broader stock market performance, which have shown bullish trends. Overall, indicators suggest a cautious outlook as Bitcoin navigates these gaps and liquidity challenges, marking October as a month of potential market shifts.

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