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Look, Bitcoin has returned to the $68k yesterday, but today it’s already recovering to $71.5k. What stands out is that CME gap that remains open way down there. You know that gap? It’s basically that empty price space in CME futures (Chicago Mercantile Exchange) when the market opens on Monday morning. Traders usually keep an eye on it because historically, the price tends to fill those gaps.
People are split on it right now. Some think Bitcoin will go back to close that gap, while others believe that the recovery to $70k is only the start of a new move upward. Either way, this level of the $70k has turned into an important resistance that the market is testing. Let’s see if it can hold—or if it will pull back to go fill that open gap.