Bitcoin futures on the Chicago Mercantile Exchange (CME) posted the largest price gap to date around $3,000.

This came after a three-day weekend, coinciding with consecutive strong movements in the Bitcoin price.

Biggest Gap in Futures Exchange (CME):

Launched in late 2017, CME Bitcoin futures enable institutional investors to trade the underlying cryptocurrency on a regulated platform.

However, being a regulated institution means that the CME operates between certain hours during the week and stops trading during weekends or public holidays.

In contrast, Bitcoin is a free market asset that is traded 24/7 and does not take days off, even on holidays.

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This makes for an interesting case, when the Chicago Mercantile Exchange closes at the end of the business week, Bitcoin continues to fluctuate in the following days, showing CME gaps when the exchange opens on the first business day after the weekend.

This is exactly what happened now.

Bitcoin futures on the CME exchange closed for trading on Thursday (December 24), instead of Friday (December 25) due to the New Year’s Eve.

The price of Bitcoin was $23,660 at the time.

When December 25 and 26 came, Bitcoin refused to hold, and rose to new highs.

So, when the Chicago Mercantile Exchange opened on Monday, there was a huge gap between Thursday’s closing price and the last price.

Although Bitcoin rebounded slightly from its all-time high to $26,660 in CME opening hours, there was a gap of $3,000, the largest to date.

Will Bitcoin Fill This Gap?

CME gaps appear almost every weekend, as mentioned above.

However, history shows that Bitcoin has a tendency to fill in these gaps by initiating huge price swings in either direction.

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This raises the question of whether the cryptocurrency will be headed for a violent bounce to do so again.

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If BTC fills this gap, it will have to fill $3,000.

According According to recent data from Arcane Research, CME has become the largest bitcoin futures market, and its impact on the crypto market continues.

This raises the concerns of Bitcoin supporters that the effects of the regulated platform could halt the coin’s upward trend.

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