Bitcoin hovers near $113,900 as CME gap zones attract intense trading interest, pointing to potential short-term consolidation or bounce.
Short-term investors show restraint as SOPR holds around 1.03, indicating a healthy and measured market sentiment unlike past euphoric peaks.
The current Bitcoin pullback signals a technical breather, not a breakdown, with ETF demand stable and no major macroeconomic threats visible.
Bitcoin is entering a crucial phase this week as it tests key price levels near $113,900, triggering strong market reactions. Weekend volatility and CME futures trading gaps have created a technical pressure zone, with short-term holders also revealing more cautious behavior. This situation brings both warning signs and fresh opportunities, making traders and analysts alert.
Bitcoin was recently priced around $113,693, slightly down by $18. However, the real story lies in its structure. According to analysts at Swissblock, the recent price pullback is normal and healthy. It does not reflect a market reversal. Instead, it resembles a pit stop before the next possible move upward. The ETF demand remains steady, and macroeconomic signals show no major red flags.
Source: CryptoRus
CME Gap Creates Technical Pressure
A key development centers on the Chicago Mercantile Exchange (CME) futures chart. As always, the crypto market traded over the weekend. However, when CME reopened on Monday, it revealed a major price gap from $112,500 to $113,900. That area on the chart, marked in red, shows where no traditional futures trades happened. This technical gap often becomes a magnet for price action.
Additionally, trading volume surged during and after the gap’s formation. The price hovered near the upper part of the gap at $113,900. Historically, CME gaps tend to get “filled” as price retraces to these levels. Hence, traders now monitor whether Bitcoin will hold above $113,900 or drop toward the $112,500 zone.
Source: Daan Crypto Trades
Short-Term Holders Show Balanced Sentiment
Meanwhile, the SOPR (Spent Output Profit Ratio) offers insight into investor sentiment. This metric shows whether recent buyers are selling at profit or loss. Right now, the SOPR sits near 1.03—what analysts call a "healthy reset" zone. This suggests no major profit-taking or panic selling. Instead, short-term investors appear balanced.
During past bull runs, SOPR hit peaks of 1.16-1.17. That happened when Bitcoin hit $70,000 and later over $100,000. Those were overheated zones. In contrast, the current reading signals calm behavior, not euphoria.
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