Bitcoin has crashed below $10,000 for the first time in seven weeks.
An aggressive week of selling has seen the price Bitcoin (BTC) fall below $10,000 for the first time since late-July, triggering fear in the markets.
After posting a local top of roughly $12,500 on August 17, BTC consolidated between $11,250 and $12,100. However, the last three days have seen sellers reject $12,000 and take over the market. Roughly four hours ago, Bitcoin briefly changed hands for $9,990 after seven weeks of price action above $10,000.
cointelegraph.com to send web push notifications to your desktop.
Don't allowAllow
$
17 HOURS AGO
BTC dips below $10K as traders eye ‘CME gap’
Bitcoin has crashed below $10,000 for the first time in seven weeks.
17799
41
0:00
NEWS
An aggressive week of selling has seen the price Bitcoin (BTC) fall below $10,000 for the first time since late-July, triggering fear in the markets.
After posting a local top of roughly $12,500 on August 17, BTC consolidated between $11,250 and $12,100. However, the last three days have seen sellers reject $12,000 and take over the market. Roughly four hours ago, Bitcoin briefly changed hands for $9,990 after seven weeks of price action above $10,000.
BTC/USDT on Binance, 1-hour chart : TradingView
Despite buyers quickly pushing prices back into five-figures, many traders are anticipating that prices will drop further to tag the most recent ‘CME gap’ at $9,700.
The fabled ‘CME gap’ occurs when the markets make an aggressive move outside of the trading hours that the Chicago Mercantile Exchange’s Bitcoin futures markets are trading, resulting in a price gap on the charts — with the most recent gap appearing after Bitcoin’s sudden spike above $10,000 in mid-August.
CME’s BTC futures, 4-hour chart : TradingView
The gap is then ‘filled’ if the charts retrace to retest the price area that is missing from the CME’s chart, fuelling predictions that the markets are destined to retest the $9,700 zone.
Good day man. I did it pls do it for too lik, comment and subscribe