CME Bitcoin Futures Utilized by Analysts to Predict BTC Retracement to $10,000

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BTC’s decline in the past two days was met with a mixed reaction in the market, first, that of apprehension that probably its bullish trend might be over while others maintained positivity that the BTC correction may lead to a fresh rally.

Coiner-Yadox isn’t the first to use a “CME gap” to predict BTC price trends, Michael van de Poppe, a Dutch analyst predicted with a measure of accuracy, Bitcoin’s fall below $8,650 in January using the “CME gap’.

Over the weekend the BTC dwindled by more than 7%, it coincided with the close of the CME market, taking into consideration that CME is regarded to be a chunky part of the daily trading volume of the worldwide bitcoin market.

Earlier on today, Bitcoin price climbed from beneath $9,800 to over $9,900 when the CME bitcoin market resumed and the void created filled.

Also, Monday is widely known to be the day in which the crypto market hits a higher level of volatility than any other day of the week, it could act as a catalyst to buoy the uptrend of BTC.

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