Published: Feb 8, 2025 at 11:25 PM
Updated: Feb 8, 2025 at 06:10 PM
- Bitcoin’s price movement shows a tendency to gravitate toward the CME open level, historically closing price gaps within days.
- Market declines have been driven by factors such as new tariffs and macroeconomic uncertainty, creating cautious sentiment among traders.
- Next week’s developments, including potential tariff announcements, could influence Bitcoin’s short-term trajectory and market liquidity.
Over the past two weeks, Bitcoin has opened with a CME gap above following price declines attributed to factors such as DeepSeek’s influence and recent tariff-related concerns. These gaps have historically been closed within days, prompting speculation about Bitcoin’s next move. Unless a major geopolitical or economic headline emerges over the weekend, market activity is expected to remain subdued before next week’s events unfold.
The latest analysis suggests that Bitcoin’s price movement could be drawn toward the CME open level, currently positioned around $96,011. This magnet-like effect has been observed in previous trading sessions, particularly when weekend price action diverged significantly from CME’s closing price.
At press time Bitcoin is currently trading at $96,268.70 with a price decline of 1.8% showing negative momentum.The 24-hour range fluctuates between $95,676.47 and $100,097,indicating slight volatility. The overall market sentiment appears mixed, with traders monitoring support at $95,676.47 and resistance at $100,097.
Bitcoin’s decline in the past week has been linked to external economic factors. Notably, the market reacted negatively to newly proposed tariffs, leading to a sharp sell-off. While some traders anticipated a continuation of the downtrend, historical data indicates that gaps tend to close relatively quickly as liquidity returns to the market.
Traders anticipate this upcoming week will prove critical because they expect additional material regarding tariff-related announcements. Bitcoin and other risk assets face potential market risks because former President Donald Trump recently made statements which provoked financial market concerns about new tariffs. Market participants adopt a conservative perspective because they predict macroeconomic events will affect Bitcoin price volatility levels.
The ongoing movement of Bitcoin’s price throughout the weekend will depend on CME gap patterns unless a significant economic development takes place. Investors keep the market tense as they watch for upcoming developments next week which may shape short-term Bitcoin trends.
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