Bitcoin slipped back to its lowest levels of the week on Tuesday, as traders closely watched an open gap in the Chicago Mercantile Exchange (CME) Bitcoin futures market. Data from Cointelegraph Markets Pro and TradingView showed Bitcoin dropping to $107,460 on Bitstamp, marking a 2.5% decline for the day. The move halted Bitcoin’s early-week rebound but stopped just short of completely filling the latest CME futures gap. Understanding the CME Futures Gap CME Bitcoin futures often create “gaps” when trading closes on Fridays and reopens on Mondays at different price points, typically due to weekend volatility in the spot market. These gaps tend to fill relatively quickly as prices move back into the missing range between the prior close and the new open. “$BTC opened with a small CME gap below this week. Price did come down to close some of it, but there’s still a bit left. So good to keep that in mind if price were to trade close to it,” trader Daan Crypto Trades said on X. He added that Bitcoin had already filled a larger gap at $110,000 last week — one that had persisted since late September before Bitcoin rallied to record highs. Market Eyes $107,000 as Key Level For now, the remaining unfilled portion of the current CME gap sits near $107,390. Last week’s market turbulence saw Bitcoin futures drop as low as $103,750, increasing concerns that further downside could occur if momentum fails to return. “The bulls would want to hold $107K going forward,” Daan Crypto Trades said. “If this were to start grinding back down, and get close to last Friday’s wick, then that’d just show a lot of weakness to me.” Traders Warn of Potential Dip Below $100,000 Some traders believe the $100,000 support zone could soon be tested again. Analyst Roman pointed out that Bitcoin’s recent rebound lacked sufficient trading volume to confirm a sustainable recovery. “Didn’t trust the low volume ‘breakout’ as volume never validated a true reclaim of support. 100-98k here we come!” Roman posted. Similarly, investor and trader Crypto Tony shared a bearish short-term outlook, noting, “Overall I expect $100,000 to hit with a possible smack lower to $95,000.” Crypto investor Ted Pillows echoed that view, suggesting that if Bitcoin fails to find a new floor, the correction could deepen toward those lower ranges. While Bitcoin remains above the critical $100,000 threshold for now, traders appear increasingly cautious as the market looks to determine whether recent highs were a temporary surge or the start of renewed volatility.
