CME Gap Filled, Price Struggles to Recover

Bitcoin (BTC) touched $107,500 in new November highs before reversing downward, filling the weekend gap in CME Group’s Bitcoin futures at $104,000. According to Cointelegraph Markets Pro and TradingView, this level acted as a key resistance that bulls could not overcome.

Trader Daan Crypto Trades noted on X that CME gaps have remained highly predictable targets for BTC price over the past 4–5 years. Despite this, whale selling prevented a swift recovery.

$240M Whale Sell-Off Affects BTC Price

Analysis from Material Indicators revealed that whales sold around $104,000 for a total of $240 million. Skew highlighted that this triggered renewed short interest. Market participants are now focusing on support levels below $100,000 as the price struggles to recover.

These moves show how short-term volatility can spike despite the predictability of CME gap fills, reminding investors of sudden market swings.

Derivatives Traders Reduce Risk, See Buying Opportunity

CryptoQuant’s “Quicktake” report highlighted an 11% decline in open interest (OI) over the past week, indicating a risk-off approach among derivatives traders. Historically, such deleveraging often precedes price recovery.

Contributor GugaOnChain said this consolidation signals a strong buying opportunity for long-term investors. Short-term volatility may continue, but BTC seems to be stabilizing on a firmer base, potentially paving the way for a subsequent rally.

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