FameEX Hot Topics | Bitcoin's 2.5% Slide Puts $100K Price Target at Risk, with a CME Gap Looming Below

Bitcoin’s price fell 2.5% on Tuesday, sliding to around $107,460, as it attempted to fill the latest weekend CME futures gap, according to TradingView data. This dip followed a failure to sustain an early-week rebound, with the BTC/USD pair unable to maintain upward momentum. The market stopped short of fully closing the gap in CME Group’s Bitcoin futures, a phenomenon driven by price volatility over the weekend when futures markets are closed. Traders noted that these gaps often act as magnets, pulling prices back to the unfilled range between the previous close and the new open. Some warned that Bitcoin could face further downside, with $100,000 support potentially at risk if the decline continues.

CME futures gaps occur because Bitcoin trades 24/7 on spot markets, but futures markets close over the weekend, creating a mismatch between Friday’s close and Monday’s open. The market tends to “fill” these gaps by revisiting the price range left open, often within days or even hours. In this case, the gap lies around $107,390, and Bitcoin’s Tuesday drop brought it close but not fully into that zone. Last week, a larger gap at $110,000, created at the end of September, was filled during a market rout that saw Bitcoin futures hit a low of $103,750. Traders are now closely watching whether the remaining gap will pull prices lower.

Trader Daan Crypto Trades highlighted the situation in an X post, noting that while part of the latest CME gap was closed, a small portion remains unfilled. He suggested that prices trading near this level could signal further weakness if the gap isn’t fully addressed. Daan emphasized the importance of holding $107,000 as a key support level for bulls. Failure to defend this zone, he warned, could lead to a retest of last Friday’s low near $103,750, indicating broader market fragility. His analysis reflects growing caution among traders as Bitcoin struggles to regain bullish momentum.

Some traders are bracing for even deeper losses, with $100,000 support coming into focus. Trader Roman expressed skepticism about Monday’s rebound, citing low trading volume that failed to confirm a genuine recovery. “Didn’t trust the low volume ‘breakout’ as volume never validated a true reclaim of support. 100-98k here we come!” he posted on X. Similarly, crypto investor Ted Pillows predicted that a failure to hold the $107,000-$108,000 range could push Bitcoin toward $100,000 in the near term, signaling a potential breakdown of a critical psychological and technical level.

Bitcoin is now testing a pivotal support zone between $107,000 and $108,000. If this range holds, a bounce could materialize, offering bulls a chance to regain control. However, if this level gives way, analysts see a slide toward $100,000 as increasingly likely. The market’s next moves will hinge on whether bulls can defend this key area or if bearish pressure will dominate, potentially dragging Bitcoin to new local lows in the coming days.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.