DeFi asset management platform XWIN Japan has highlighted the presence of a gap in CME Bitcoin futures trading, which occurs because these futures only trade on weekdays, unlike the 24/7 spot market. This gap is not merely a 'magnetic' price level but a low liquidity area. The current gap has been filled, and the next unfilled gap is around $93,000, marking a potential mid-term target for Bitcoin's upward movement, though it does not imply an immediate price reach.
XWIN Japan notes that the key driver for gap filling is the level of open interest (OI) in futures contracts. High OI indicates leverage accumulation, which could lead to significant volatility when positions are closed. If leverage increases without sufficient spot demand, the market might first decline to clear positions before stabilizing and attempting to move towards the upper gap.
XWIN Japan Highlights CME Bitcoin Futures Gap as Mid-Term Target
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