Bitcoin price pares weekend gains as another CME ‘gap’ lurks below $20K


Bitcoin (BTC) struggled to maintain bullish momentum on Jan. 30 as the countdown to the monthly close kept the market nervous.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

BTC price sees flash dip below $23,000

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD coming off its latest highs at just below $24,000 on the day.

These, while Bitcoin’s best performance for nearly six months, encountered problems with staying power as the week began, with pre-Wall Street trading seeing a brief trip below $23,000.

At the time of writing, Bitcoin traded at around $23,250 as United States equities limped into the final few days of January.

Among the topics of interest for analysts was the CME Bitcoin futures gap from the weekend getting swiftly “filled” by spot.

“Gaps” in the futures chart often act as a short-term price magnet for spot once futures markets reopen after weekends. Another remained open between roughly $19,970 and $20,530.

“CME gaps filled and overshooting now bc of Equity futures being negative,” popular trader John Wick wrote in his…

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