Bitcoin has experienced a technical retreat that places its value near the 91,000 dollar frontier this Wednesday. According to analyst James Van Straten, this movement responds to the “technical gravity” exerted by the CME pricing gaps that recently remained open. These untraded price zones act as magnets for market action in the short term. Therefore, investors are monitoring specific support levels to avoid much deeper price drops.
A gap in CME futures forms when the asset moves while the institutional market is closed. Thus, the range between Friday’s close and Sunday’s reopen generates a visual discontinuity in the charts. Currently, there is a significant gap near 90,600 dollars that has not yet been fully completed at this time. Likewise, data suggests that Bitcoin historically tends to retrace and trade back through these empty ranges. Therefore, the current weakness aligns with a quite established market narrative.
On the other hand, there is another open gap from the start of the year located at the 88,000 dollar level. To complete this void, the price would need to record an additional 4% decline from current price levels. As a result, January volatility could be driven by these very specific technical reference points. In this way, traders adjust their positions expecting a retracement move before continuing upward. This dynamic resembles the “max pain” theory observed in other financial markets.
Will spot ETFs generate new technical references similar to futures markets?
Additionally, a similar phenomenon is emerging in financial products like BlackRock’s iShares Bitcoin Trust (IBIT). The ETF also shows open gaps around the 48 and 50 dollar levels currently. Therefore, the trading behavior of exchange-traded funds begins to reflect technical patterns of futures. In this way, the institutional market has multiple indicators to predict potential bounce or temporary capitulation zones. This structural integration reinforces the importance of traditional market closes.
On the other hand, the influence of ETFs on market structure is rivaling that of CME futures. Hence, these gaps could become essential reference points for professional traders. However, Bitcoin’s drop toward 91,000 dollars does not necessarily guarantee that all gaps will close soon. Likewise, market sentiment remains sensitive to macroeconomic news affecting global liquidity this quarter. The balance between supply and demand remains in a consolidation phase.
What impact will price synchronization between Wall Street and the spot market have?
However, the process of “filling the gap” is not guaranteed behavior but it is very frequent. Most of these retracements occur within the first week after the technical void forms. Therefore, the coming days will be decisive in defining if the Bitcoin price finds a solid floor soon. In case the 91,000 dollar support fails, the technical target will shift toward 88,000 dollars. Similarly, institutional investors use these levels to manage their operational risks.
Finally, the cryptocurrencies ecosystem faces a necessary technical recalibration after the year-end advances. The stability of the asset will depend on its ability to absorb selling pressure at these key levels. In this way, CME pricing gaps will remain the focus of attention for those seeking technical precision. The market expects that once these levels are completed, the asset can resume its growth path. The long-term bullish structure remains the base scenario for many analysts.
