Bitcoin Price Clears $7.5K After Overnight Dip Fills CME Futures Gap

Bitcoin (BTC) trudged closer to $7,600 on Jan. 6 after an overnight dip failed to trigger a sustained sell-off.

Cryptocurrency market daily overview. Source: Coin360

BTC range suggests few surprises

Data from Coin360 and Cointelegraph Markets put the largest cryptocurrency back over the $7,500 mark on Monday, with 24-hour highs hitting $7,550.

Previously, BTC/USD had lost support at $7,450 and fallen to lows of $7,330, but support at those levels appeared stronger and allowed markets to bounce upwards. The effect was Bitcoin filling another “gap” in futures markets, this time at $7,385.

At press time, the pair traded at around $7,530, challenging what Cointelegraph analysts believe will be a major area of resistance. 

Bitcoin 7-day price chart. Source: Coin360

As Keith Wareing noted in his latest analysis on Sunday, Bitcoin would need to leave $7,600 behind in order to remove the likelihood of returning to lower levels.

“Should the price bounce back after the CME gap fills, it could…