BTC Price’s Weekend Surge Leads to Formation of Another CME Gap
March 24, 2025
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By James Van Straten|Edited by Sheldon Reback
Mar 24, 2025, 12:16 p.m. UTC
- A $1,000 gap formed as CME Bitcoin futures opened at $85,160 on Monday, above Friday’s close of $84,190.
- Bitcoin has historically filled most CME gaps, suggesting a potential retest of the $84,000–$85,000 range.
As spot Bitcoin (BTC) pushed higher over the weekend reaching a high of $87,800 on Monday, another gap emerged between CME futures’ closing price on Friday and the start of the new week’s trading.
The futures closed at $84,190 at the end of the last week and opened about $1,000 higher at $85,160. That sets the stage for a drop back because bitcoin has developed a tendency to fill these CME futures gaps.
STORY CONTINUES BELOW
As of mid-March, it had filled the most recent gap, which was created during the November rally following President Donald Trump’s election victory. That gap was fully closed when bitcoin dropped to $76,700 in mid-March.
The gaps occur because spot bitcoin trades 24/7 while CME futures operate only 23 hours a day, Sunday through Friday. When there’s a significant price movement during the CME’s off-hours, a gap forms between the previous close and the next day’s open.
Historically, bitcoin has often retraced to fill such gaps. Based on this pattern, it’s likely that bitcoin could revisit the $84,000–$85,000 range in the near term.
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin’s role within the broader financial system.
In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin, MicroStrategy (MSTR), and Semler Scientific (SMLR).
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