CME Group is among the top margin trading exchanges in the world. The platform earlier announced to introduce options trading in the first quarter of the next year. Today the Bitcoin trading came under the spotlight as several crypto experts noted CME bitcoin futures flash crash to $8,500 to fill the gap.
CME BTC/USD futures suddenly dropped below $8,500 before returning to $9,300. When the price of the leading cryptocurrency reached $10,600 later last month, a gap was created on CME futures. Today, the gap was filled.
I cannot believe how crazy trading BTCUSD on the short term is right now. The gap on the CME has filled already. It's thinly traded yes. But man, I'm highly suspicious of the price action across all the exchanges of late, more so than usual. https://t.co/M3Pf4Cmksq
— Willy Woo (@woonomic) November 5, 2019
A gap occurs when one session begins higher than where the last ended. Crypto trader @satoshiiHeavy tweeted the chart, adding that dump was not present on other exchanges. During the sudden surge in the price of bitcoin on 25th October, it created a breakaway gap from $8,700 to $9,600.
This is insane TBH
CME gap filled
Price DUMPED but not on any exchange.$BTCUSD
— Heavy (@SatoshiiHeavy) November 5, 2019
At the time of writing, the leading cryptocurrency is changing hands at $9,278. If the filling in of gap is considered a bullish sign, then the resistance areas for bitcoin are found at $11,000 and $12,00.