Bitcoin Price Halts 3-Day Losing Streak With $7,680 Futures Gap Bounce

Bitcoin (BTC) continued falling on Jan. 10 as gains from late last week fizzled and markets attempted to find support levels in the $7,000-$8,000 range.

Cryptocurrency market daily overview. Source: Coin360

BTC futures gap punctuates losses

Data from Coin360 and Cointelegraph Markets showed BTC/USD shedding another 2% overnight on Thursday, having previously reached local highs above $8,400. 

At press time, the pair circled just under $7,750 in volatile conditions, having paused its losses after hitting a “gap” in CME’s futures market between $7,676 and $7,716. CME’s price index itself just avoided entering the gap zone.

Bitcoin 1-day price chart. Source: Coin360

As Cointelegraph reported quoting regular contributor, Michaël van de Poppe, Bitcoin was likely to drop down to the gap, which represents the “empty space” between where one futures trading session closes and the next opens. 

Historically, the price has sought to “fill” previous CME gaps with consistent…