Analysis: CME Bitcoin Futures Gap Board Widens as Price Continues to Decline

IconCryptoNewsTerminal Staff16 Jul, 2024

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Analysis: CME Bitcoin Futures Gap Board Widens as Price Continues to Decline

Cointelegraph reported, citing data from Coinglass, that the CME Bitcoin futures gap board has widened as the price of Bitcoin continues to decline. The gap board is a technical analysis tool that identifies areas where the price of an asset has moved significantly higher or lower than its previous trading range. In the case of Bitcoin, the gap board shows that there are a number of unfilled gaps between the current price and previous highs and lows. This suggests that there is potential for further volatility in the Bitcoin market. The widening of the CME Bitcoin futures gap board is a sign that the market is becoming increasingly uncertain about the direction of Bitcoin's price. This is likely due to a number of factors, including the recent regulatory crackdown on cryptocurrency exchanges in China, the upcoming Bitcoin halving, and the ongoing uncertainty surrounding the global economy. The widening of the CME Bitcoin futures gap board is a reminder that the cryptocurrency market is still highly volatile. Investors should be aware of this volatility and take appropriate steps to manage their risk.

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