Bitcoin Approaching $91,000: Increasing Pressure from Two Unfilled Price Gaps

The CME Price Gaps Are Shaping Market Volatility

In recent days, Bitcoin (BTC) has faced significant resistance while fluctuating near the $91,000 mark. Much of this technical pressure stems from unfilled gaps on the CME futures chart — a phenomenon that professional traders are closely monitoring.

This event began over the weekend when CME Bitcoin futures contracts closed on Friday around $90,600, but when markets reopened on Sunday evening, the price surged to approximately $91,600. This gap is not coincidental — it reflects the nature of CME operations, where these cash-settled contracts close daily and do not trade continuously like the spot market.

Why Are Gaps Important for Bitcoin?

Unlike 24/7 cryptocurrency markets, CME pauses trading for one hour each day and is completely closed on weekends. These non-trading periods create “gaps” on technical charts — price gaps where no trades occur.

Bitcoin has a rather interesting history: it often returns to “fill” these gaps. This phenomenon, known as “gap filling,” has occurred frequently enough to become a widely recognized technical pattern. Many traders see these gaps as a price magnet — when that happens, market sentiment tends to push the price back to that level.

Although not always guaranteed, gap filling usually occurs within a few days, especially during the first week after the gap appears. However, some gaps can persist longer, providing fundamental points for long-term technical analysis.

Psychological Effect: When Patterns Become Reality

The CME gap pattern is similar to the “max pain” concept in options markets — the existence of these patterns can actually create the pattern itself. When enough traders anticipate the price moving toward the gap, they start placing orders aligned with that expectation, ultimately generating the very price movement they forecast.

At the time of writing, Bitcoin futures on CME are trading at $91,900. To fill the weekend gap around $90,600, Bitcoin needs to drop about 1.6%. Additionally, there is a larger gap from the beginning of the year near $88,000 waiting to be filled — requiring a further 4% decline to reach that level.

IBIT ETF: When Spot Market Begins Reflecting Technical Patterns

A notable development is happening with BlackRock’s iShares Bitcoin Trust (IBIT). Last Tuesday, this ETF closed at $52.45, but more interesting are the underlying signals: there are still open gaps near the $48 and $50 levels.

This indicates an important trend — as IBIT increasingly becomes an integral part of the Bitcoin ecosystem and its influence approaches that of CME futures, price gaps are also starting to appear in the ETF market. These gaps could serve as additional technical signals for traders trying to predict the next market move.

Next Developments to Watch

With Bitcoin currently under pressure from two major CME gaps yet to be filled, and with similar patterns emerging on IBIT, the upcoming market could see significant movements. Will Bitcoin “stick to the rules” and return to fill these gaps, or will a strong bullish trend overcome these technical patterns? That’s the question traders are waiting for answers to.