Bitcoin’s (BTC) spot price rose 9.5% from approx. $ 84,100 to over $ 94,000 on Sunday after President Donald Trump appointed BTC and four other coins – ETH, XRP, Sun and ADA – to the US strategic crypto reserve.
It has led to a gap-up opening for march-futures listed on CME, as shown by data source CME and card platform trade. The contract opened at $ 95,000 early today, an increase of $ 9,280 from Friday’s height of $ 85,720.
The gap represents a non-traded zone, indicating a price level where no transactions occurred between consecutive trade sessions. This absence of trade suggests a sudden change in market mood, which in this case is bullish after last week’s sale.
Holes are often filled in as market participants tend to restore a balance after the disturbance. The best example is the last week’s sale under $ 80,000 that filled the gap from November.
So the emergence of a new space between $ 84,000 and $ 94,000 means prices could revise this window once.