BTC is about to close a gap of $78K in Bitcoin futures?

Bitcoin is now closer than ever to the old record high of BTC/USD, which was reached last year.

The following are some of the ways to get in touch with us fresh X analysis Rekt capital, a trader and analyst firm, flagged an inbound on February 27. “gap” CME Group Bitcoin Futures market.

The battle of Bitcoin Futures Gaps begins

BitcoinBTCThe daily closing price on February 26 was $82,160, a new low for the past several months. Cointelegraph Markets Pro You can also find out more about the following: TradingView This was confirmed and the rebounded to about 5%.

A broad liquidation wipeout has led to fears about where the next bottom of the local market could be. lack of buyer conviction.

Latest data on monitoring resources CoinGlass Shows dispersed bidding liquidity at around $80.000, which is a far cry from the $90,000.

Rekt Capital has two targets in sight.

Bitcoin created a large CME difference both upwards and downwards and, if the past is any guide, it should eventually rise in price. “fill” both levels.

“Bitcoin is getting closer to filling the CME Gap that created between $78000 and ~$80700 in November 2024,” The analysis presented.

“On this retrace however, Bitcoin has developed a brand new CME Gap between ~$92700 and ~$94000.”

Rekt Capital pointed out that the gap on the upside matches the lowest point of what, until this week, was a trading range lasting three months.

“This offers some confluence to the idea of price revisiting $93500 at some point in the future as part of a post-breakdown relief rally,” He said, referencing another target The day before

“Especially since Bitcoin has filled almost every CME Gap that formed since mid-March 2024 thus far.”

Bitcoin has multiple uses “potential reversal points”

Some experts are calling for a lasting reversal.

Related: Bitcoin enters ‘technical bear market’ as BTC price drops 20% from all-time high

It is important to note that the word “you” means “you”. Crypto Fear & Greed Index The level of the index has dropped to a record low of 10/100, which is a drop of more than ten years. “extreme fear” The following are some examples of how to use accompanied the collapse Crypto exchange FTX.

Axel Adler Jr. revealed panic-selling’s aftermath by analyzing short-term holders (STHs) behavior.

Adler calculated the STH Market Value to Realized Value (MVRV), which is the BTC Price divided by the Cost Basis of the STH Investor cohort.

“The STH MVRV (155-day) metric has periodically dropped below one, indicating periods of short-term undervaluation and potential reversal points,” He told X-Followers

“The current values have once again approached the lower levels.”

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