Bitcoin experienced a 2.5% decline during Tuesday’s trading session as the cryptocurrency market continued its downward trajectory toward the latest CME futures gap. Market analysts observed that this movement represents a technical correction following the weekend’s price action, with BTC now testing crucial support levels.
The CME futures gap, created during periods when traditional markets are closed while cryptocurrency trading continues, has historically served as a significant price magnet. Current price action suggests Bitcoin is attempting to fill this gap, which typically occurs shortly after markets reopen following weekend trading sessions.
Market participants are closely monitoring key support zones as the correction unfolds. Several prominent traders have expressed concerns about Bitcoin’s ability to maintain the psychologically important $100,000 level should current selling pressure persist. The recent price movement reflects ongoing market uncertainty and profit-taking behavior following previous gains.
Technical analysts emphasize that while short-term volatility remains elevated, Bitcoin’s long-term fundamentals continue to demonstrate strength. The current correction aligns with historical patterns observed following significant price advances, though market participants remain cautious about potential further downside risk in the immediate term.
