Bitcoin Price Retests $7.3K as Analyst Eyes New Bullish Futures ‘Gap’
William Suberg's original article for cointelegraph.com reduced by 41%
Bitcoin fell back towards support at the $7,250-$7,300 level on Dec. 1 after its latest sudden uptick began to fizzle overnight. In particular, Cointelegraph contributor Michaël van de Poppe eyed a likely "Gap" in Bitcoin futures markets.
As Cointelegraph reported, Bitcoin price tends to "Fill" points in its price which fall between where one futures trading session ends and another begins. A new gap will likely have opened up, van de Poppe said, as CME's contracts finished Friday trading at $7,805. Data suggested that Bitcoin would likely gain following the payouts, but so far, an opposing price trajectory has characterized markets.
Overall sentiment among futures traders nonetheless remains bullish, with competitor Bakkt seeing record daily volumes for its own monthly contracts last week. The overall cryptocurrency market cap was $198.7 billion, with Bitcoin's share at 66.6%.Keep track of top crypto markets in real time here.
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CN [too long; didn’t read]
Summarised crypto news.