RATE Group | Bitcoin May Drop Until It Fills CME BTC Futures Gap at $8,500
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Bitcoin May Drop Until It Fills CME BTC Futures Gap at $8,500

23 Jul Bitcoin May Drop Until It Fills CME BTC Futures Gap at $8,500

Posted at 00:31h in Bitcoin News by

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Bitcoin and the aggregated crypto markets have been incurring increased volatility over the past several days, which first began when BTC sharply moved towards $11,000 before swiftly being rejected and plummeting lower.

Now, it appears that Bitcoin is likely to drop back towards the $9,000 region, and analysts are noting that the CME Futures gap that exists around $8,500 could be a logical level for the cryptocurrency to drop to before it finds any meaningful support.

Bitcoin Plummets Towards $10,200 as Selling Pressure Ramps Up

At the time of writing, Bitcoin is trading down nearly 2% at its current price of $10,280, which is down significantly from its daily highs of nearly $10,700 that were set yesterday.

Over a one-week period, it becomes abundantly clear as to just how volatile Bitcoin has been as of late, as it dropped to lows of $9,100 last week before surging past $11,000, which was subsequently followed by a sharp selloff that has led the crypto towards its current…

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