Key Points:
BTC is attempting to fill the latest weekend Bitcoin futures gap after giving up its rebound.
Traders warn that the overall weakness in BTC prices is occurring against a backdrop of low trading volume.
Price predictions increasingly suggest a retest of the $100,000 level.
BTC fell back to its weekly low on Tuesday, with all eyes on the unfilled "gap" in Bitcoin futures.
Data from Cointelegraph Markets Pro and TradingView shows that BTC/USD dropped to $107,460 on the Bitstamp trading platform.
The trading pair fell 2.5% on the day, failing to maintain the rebound momentum from the beginning of the week, but has not yet fully "filled" the latest gap in the CME Bitcoin futures market.
These gaps formed over the weekend due to price fluctuations, leading to futures closing at one price point and opening at another.
Markets often "fill" gaps by returning to the space between the opening and closing levels. Typically, this occurs within a few days or even hours.
Trader Daan Crypto Trades analyzed the situation on the X platform, stating: "$BTC has a small CME gap below it from the weekly open. The price did drop and filled part of the gap, but there are still some unfilled. So, if the price trades close to that area, it needs to be watched closely."
In this case, filling the gap means returning to around $107,390. During last week's market crash, the low for Bitcoin futures was around $103,750.
Daan Crypto Trades mentioned on Monday: "Bulls hope to hold the $107,000 level."
Some traders are preparing for new local lows, including a potential breakthrough of the $100,000 support level.
Trader Roman pointed out that Monday's rebound was difficult to sustain due to insufficient trading volume.
"I don't believe in this 'breakout' on low volume, as the volume data has never validated a true reclaim of the support level. The $100,000 to $98,000 range is coming!" he told his followers on the X platform.
Cryptocurrency investor and entrepreneur Ted Pillows also believes that if BTC cannot establish a solid bottom, $100,000 will become the next key focus.
$BTC is now at a key support level. If the $107,000-$108,000 support level holds, a bounceback could happen. If Bitcoin loses this level, it could drop towards $100,000 in the coming days. pic.twitter.com/6bIOIudmqM
"Overall, I expect BTC to touch $100,000, and it may even further dip to $95,000," trader Crypto Tony added, reiterating his previous market expectations.
Related: Michael Saylor's Strategy Takes Another Small Step Towards 700,000 Bitcoins (BTC) Target
This article does not contain any investment advice or recommendations. Any investment and trading activities involve risks, and readers should conduct their own research before making decisions.
Original article: “Bitcoin (BTC) Dips to Fill CME Gap, Price Drops 2.5% Facing $100,000 Collapse Risk”
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