RATE Group | Bitcoin Drops $300 in Seconds Under $10K as ‘Mild Dip’ Fills CME Gap
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Bitcoin Drops $300 in Seconds Under $10K as ‘Mild Dip’ Fills CME Gap

10 Feb Bitcoin Drops $300 in Seconds Under $10K as ‘Mild Dip’ Fills CME Gap

Posted at 07:10h in Bitcoin News by

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Bitcoin (BTC) fell below $10,000 on Feb. 10 as sudden volatility saw markets abandon five figures just a day after reaching them.

Data from Coin360 and Cointelegraph Markets showed BTC/USD dipping to lows of $9,850 at press time, followed by a bounce-back up to $10,000 and subsequent fluctuation in the upper $9,900 range.

Bitcoin 1-day price chart

Bitcoin 1-day price chart. Source: Coin360

“Mild” dip fills CME futures gap

The move coincided with the start of a fresh week of trading on futures markets, with Bitcoin filling a “gap” left at the end of trading on Friday.

Specifically, CME Group’s futures finished last week at around $9,850 — currently, exactly the level to which BTC/USD fell on Monday.

Rising and falling to hit empty patches in futures is a common feature for Bitcoin, Cointelegraph noting various instances over the past year in particular which have dictated short-term market movements.

CME Group Bitcoin futures 7-day chart

CME Group Bitcoin futures 7-day chart. Source: TradingView

As the price dropped to $9,900, a single…

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