March futures opened at $95K early today, gapping higher by over $9K from Friday's high.
Bitcoin's spot price rose 9.5% from roughly $84,100 to over $94,000 on Sunday after President Donald Trump named BTC and four other coins – ETH, XRP, SOL and ADA – for U.S. strategic crypto reserve.
That has led to a gap-up opening for the March futures listed on the CME, as shown by data source CME and charting platform TradingView. The contract opened at $95,000 early today, up $9,280 from Friday's high of $85,720. The gap represents a non-traded zone, indicating a price level where no transactions occurred between consecutive trading sessions. This absence of trading suggests an abrupt change in the market sentiment, which, in this case, is bullish following the past week's sell-off.
Gaps are often filled as market participants tend to re-establish a balance after the disruption. The best example is the past week's sell-off below $80,000,Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician member. Omkar previously worked at FXStreet, writing research on currency markets and as fundamental analyst at currency and commodities desk at Mumbai-based brokerage houses.
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