Analyst sees BTC targeting $93K to fill CME gap

A Bitcoin CME gap around $93,000 is being discussed as a potential medium-term upside target, according to an analysis from on-chain research firm XWIN Japan Research. In a contribution to CryptoQuant, the firm explained that these gaps occur because CME Bitcoin futures trade only on weekdays, creating a price vacuum between Friday's close and Monday's open that is interpreted as an area devoid of liquidity and positions. The analysis noted that higher open interest (OI) increases the likelihood of prices moving toward the gap during liquidations. While one recent gap has been filled, the next is located near the $93,000 level. However, the firm cautioned that weak spot demand could trigger a short-term decline to clear out late long positions before the market stabilizes and attempts a rebound. XWIN Japan Research concluded that while filling the gap is not guaranteed, it serves as a key market signal where positioning, liquidity, and sentiment intersect.