Analysis: BTC fills July CME gap with its recent pullback, but outlook remains unclear

As per data from Cointelegraph Markets Pro and TradingView, Bitcoin (BTC) has filled the July Chicago Mercantile Exchange (CME) gap with its recent pullback to $114,322, Cointelegraph reported. BTC hit three-week lows earlier today, and many traders attribute this drop to deteriorating market sentiment impacted by U.S. tariff impositions. Some crypto analysts believe the closure of the CME gap could signal a potential resumption of upward momentum. However, some market participants express concerns that if BTC fails to reclaim $116,000, it could face further declines to $104,000. In addition, the crypto market has experienced a greater decline than other indexes such as the S&P 500, Cointelegraph added.