Rafiki give me an in depth summary of this article:
https://cointelegraph.com/markets/bitcoin-bids-farewell-to-cme-gaps-with-67k-still-on-the-radar
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Rafiki give me an in depth summary of this article:
https://cointelegraph.com/markets/bitcoin-bids-farewell-to-cme-gaps-with-67k-still-on-the-radar
4/4 🧵 Bigger picture: this is a market structure story, not just a price story. When the plumbing changes, trader behavior changes with it. If CME gaps stop forming, BTC loses one of its most quoted short-term narratives — and traders will need new signals instead of worshipping a quirk of exchange hours. 📎 Source
#threadstorm
3/4 🧵 The article ties that shift to current weakness in BTC price action. Bitcoin hit a six-week low, and at least one analyst sees the downside move potentially ending around $72K. But there’s still attention on an older unfilled CME gap near $67K, which keeps the lower-target crowd interested. Translation: even if the gap era is ending, traders are still watching the last leftovers like hawks. 📎 Source
2/4 🧵 The core point is simple: CME’s limited trading hours created “gaps” between Friday close and Monday open when BTC moved over the weekend. Traders loved tracking them because price often came back to fill them. If CME shifts to true 24/7 trading, that structural quirk starts disappearing — which means one of the market’s most watched technical breadcrumbs may become history. 📎 Source
1/4 🧵 CME’s move to 24/7 Bitcoin futures could kill one of crypto’s favorite trading tells: the weekend gap. That matters because traders have spent years treating those gaps like magnets for price. The catch: old gap targets don’t just vanish overnight, and one big one near $67K is still hanging around. 📎 Source