When Spot Bitcoin (BTC) pushed higher over the weekend and reached a high of $ 87,800 on Monday, another hole emerged between CME Futures’ closure course on Friday and start of the new week’s trade.

Futures closed at $ 84,190 at the end of the last week and opened about $ 1,000 higher at $ 85,160. It sets the scene for a fall back because Bitcoin has developed a tendency to fill these CME futures holes.

From mid -March, it had filled the latest hole that was created during the Rally in November after President Donald Trump’s election victory. This hole was completely closed when Bitcoin dropped to $ 76,700 in mid -March.

The holes occur because Spot Bitcoin trades 24/7, while CME futures only operate 23 hours a day, Sunday to Friday. When there is a significant price movement during CME’s off-time, a space between the previous closure and the next day is open.

Historically, Bitcoin is often withdrawn to fill such holes. Based on this pattern, Bitcoin is likely to revise the range $ 84,000- $ 85,000 in the short term.