Analysts at CryptoQuant have determined that the unfilled gap on the CME exchange around $93,000 is an important mid-term target for Bitcoin. This price level is seen as a potential benchmark for further growth, linked to liquidity dynamics and the accumulation of leverage in the market.
This is reported by Finway
What is a CME Gap and Why is it Important
Experts explain that gaps on the CME Group futures market occur because Bitcoin futures trading on this exchange only takes place on weekdays. As a result, unfilled price ranges often form between the market close on Friday and the open on Monday, which can act as a kind of “magnet” for subsequent price movements.
Specialists note that these gaps indicate areas of low liquidity where no trades have been executed. The market typically returns to these levels during position redistribution and liquidity replenishment.
The Impact of Open Interest and Leverage
Analysts have also focused on the open interest (OI) metric, which reflects the total number of open futures contracts. An increase in this metric indicates that market participants are enhancing their leverage, which can, in turn, set the stage for sharp price movements.
As noted by CryptoQuant, a rise in OI signifies the accumulation of energy in the market, which is later released through liquidations or profit-taking, causing significant fluctuations in the asset’s price.
“When OI rises, energy accumulates in the market. Eventually, it is released through liquidations or profit-taking, provoking sharp price movements,” stated CryptoQuant.
Experts emphasized that the direction of Bitcoin’s further movement may be determined by liquidity zones, particularly the gap near $93,000.
At the same time, CryptoQuant stressed that while the gap around $93,000 is an important benchmark, it does not guarantee an immediate price increase. If the volume of leveraged positions continues to grow without support from spot demand, the market may first correct downward to liquidate late long positions. After that, analysts believe the price could stabilize and continue moving towards the stated target.
“Essentially, CME gaps are not guarantees but signals. They mark areas where positioning, liquidity, and market psychology intersect, making them important benchmarks for future price movement,” concluded CryptoQuant.
Previously, another analytical platform reported a sharp increase in positive sentiment among Bitcoin investors when its price recovered above $80,000. This indicates heightened market interest in potential future price movements.
