Bitcoin ETF

Bitcoin

The post <a href="https://coinpedia.org/price-analysis/bitcoin-hovers-between-two-big-cme-gaps-heres-what-next-for-btc-price/" rel="noopener noreferrer nofollow">Bitcoin Hovers Between Two Big CME Gaps: Here’s What Next for BTC Price</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
All of it started when the investors became extremely optimistic about Bitcoin with fake BlackRock Bitcoin spot ETF approval news. The <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">BTC price</a> has soared by over 50% since then, rising from the consolidation of around $28,000 to the current high of close to $45,000. Besides, the SEC faces a January 2024 deadline on multiple spot Bitcoin ETF applications, which is expected to be a potential game changer for Bitcoin and the entire crypto space.
Currently, the BTC price is expected to trade within a pre-bull phase and is approaching its climax, after which a massive bull run could begin. However, the markets may experience intensified volatility, which may create huge waves very soon. The Bitcoin price has created two CME gaps, which are quite huge and are expected to be filled soon.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/Z88AlR2kIeYAfx6pjJ2OUDGZDViYSB0ljxNvsSBx5fr0DfvohSuu8_1qQqQQ11Xm5p5-tDzWAW6xgTIlExhYVWqGLqdOv10V5TyLfG77jqQVDf7mLPLMLYcwlxDLIZS5dHqME-axLHOmWP93OUPNsgE" alt="">
 <figcaption class="wp-element-caption"><a href="X" target="_blank" rel="noopener noreferrer nofollow">Source: X</a>
 </figcaption>
</figure>
The above chart displays two CME gaps between $39,400 &amp; $40,200 and $44,200 &amp; $45,200 in the short time frame. The price is trading around the average levels between the highs at $45,000 and the lows at $39,400. Hence, it displays both probabilities of rising or plunging to either of these levels to fill out the gaps.&nbsp;
Therefore, the Bitcoin price is expected to drop to the <a href="https://coinpedia.org/price-analysis/crypto-markets-continue-to-consolidate-here-is-what-may-happen-next-with-the-bitcoin-btc-price/" target="_blank" rel="noopener noreferrer nofollow">liquidity zone below $40,000</a>, which may offer a fine push towards the next highs. The crypto markets are consolidating within a narrow range and following, more or less, a similar pattern that they followed previously. Therefore, a yearly close above $45,000 may validate a rise beyond the bearish claws; otherwise, the BTC price may continue to juggle within the levels for an extended period.

Bitcoin Hovers Between Two Big CME Gaps: Here’s What Next for BTC Price

CoinPedia News

Other articles published on Dec 17, 2023

Ripple (XRP) CTO’s $100M Loss; AI Crypto Poised for Tremendous Growth

Bitcoin (BTC) Price Analysis: Bulls Supporting 41420 – 18 December 2023

Key security mistakes that may lead a defi project to foul play | Opinion

Top trader sets target prices of Shiba Inu, Solana and Retik Finance for April 2024.

Here’s Why Bitcoin (BTC) Price May Retest $33k Levels

Shiba Inu’s Strategic Burns: A Path to Revival?

Join our free newsletter for daily crypto updates!