CME Bitcoin futures open with $6.8K gap, second largest on record

CME Bitcoin futures opened with a gap of approximately $6,830, the second-largest on record. The gap formed between the previous session's close of $84,560 and the current session's open of $77,730. This is second only to the record $10,350 gap recorded on March 3 of last year. Such gaps occur because the CME market closes for the weekend while the Bitcoin spot market operates continuously, allowing for price divergence. Consequently, traders are monitoring whether the futures price will move to close this price difference.