One widespread narrative that cryptocurrency investors have been closely watching as of late is regarding Bitcoin’s propensity to fill gaps that are formed on its CME futures chart.
Although this trend has proven to hold true in some cases with both Bitcoin and other assets, it is important to note that the narrative is laced with flaws, as multiple existing haps have not been filled in the past.
Furthermore, one on-chain analyst is now noting that the existence of a gap between $9,700 and $9,850 may help the cryptocurrency form a strong base here that allows the crypto to push higher.
He notes that traders have been attempting to front-run this gap by buying at $9,900, which is the main reason why it has yet to be visited.
Because of this, he added that there is a “fair chance” that this gap never gets filled by Bitcoin.
Bitcoin’s CME Gap Narrative Builds
As of late, many analysts have been