RATE Group | Bitcoin Price Drops 3% to Fill Fresh Futures Gap as $10K Fails to Hold
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Bitcoin Price Drops 3% to Fill Fresh Futures Gap as $10K Fails to Hold

24 Feb Bitcoin Price Drops 3% to Fill Fresh Futures Gap as $10K Fails to Hold

Posted at 11:20h in Bitcoin News by

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Bitcoin (BTC) fell below $10,000 once more on Feb. 24 after a gap in CME’s futures trading implied downward pressure should characterize the start of the new week.

Cryptocurrency market daily overview

Cryptocurrency market daily overview. Source: Coin360

BTC gives up $10K… again

Data from Coin360 and Cointelegraph Markets showed BTC/USD rapidly lost 3% as Monday trading began. On Sunday, the pair had briefly managed to reclaim the $10,000 landmark. 

Subsequently, local lows of $9,690 gave way to support above $9,700, with Bitcoin sitting at around $9,720 as of press time. 

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Coin360

Traders’ attention broadly focused on futures, these having previously dictated Bitcoin price movements with increasing accuracy. Last week’s session closed at around $9,740, $250 lower than this week’s open.

The week prior, a considerably larger gap had appeared over the weekend — $500 between $10,495 and $9,990. Markets only partially filled the resulting vacuum with upside action before an abrupt…

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