Bitcoin

Bitcoin price suddenly drops after the futures gap is filled with $ 10,000

The price of Bitcoin (BTC) rose rapidly to $ 10,000 on May 14, a new and spectacular bullish wave that completely eliminated the losses for the weekend.

Daily overview of the cryptocurrency market

Daily summary of the cryptocurrency market. Source: Coin360

Another BTC price drop disappears

Bitcoin price suddenly drops after the futures gap is filled with $ 10,000
Bitcoin price suddenly drops after the futures gap is filled with $ 10,000

Cointelegraph Markets and CoinMarketCap data observed that BTC / USD rose to five numbers this Thursdayup 13% in the last 24 hours.

The resistance level on the way to $ 9,000 fell rapidly BTC picked up speed to return to its position from last week.

After just under $ 10,000 A retreat led the markets to a level of $ 9,700 a matter of minutes.

Bitcoin 1-day chart

Bitcoin price chart in one day. Source: CoinMarketCap

As reported by Cointelegraphthe movements are independent of other macro cryptocurrencies, which indicates that Bitcoin is increasingly “decoupling” from external market influences.

Analyst: “No decline expected after halving” in the market

For Cointelegraph Markets analyst Michaël van de Poppe, the number for this Thursday was the result of Bitcoin filling a record gap in the CME Bitcoin futures markets.

CME Bitcoin Futures 1 week chart with gap

Weekly chart of CME BTC futures showing the gap. Source: TradingView

A common event for BTC / USD: The price maneuver to close the gaps between weekly trading sessions is likely to be responsible for volatility today.

“Based on the CME chart, the gap was closed in 4 hours. This led to a significant decrease of USD 400, but also a good trading range. Lows; USD 8,250-8,400 / USD 8,600 highs; USD 9,800-10,100;” summarized in Twitter.

There won’t be a drop after halving. The fall occurred before the event. Bitcoin could be in a bull market.

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