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#Bitcoin Fills CME Gap After Iran Strike Sparks $5,000 Sell-off❗
Following Friday’s airstrikes by Israel on Iranian military and nuclear facilities—which escalated regional tensions—global markets experienced heightened volatility. Oil prices surged over 10%, gold rallied, and Bitcoin plunged by more than $5,000 in under 24 hours. This sharp move wiped out the weekend premium and triggered a rush of forced liquidations across crypto markets, with more than $1.1 billion in long positions liquidated .
A notable technical development accompanied this drop: Bitcoin’s CME futures market “gap” from the previous weekend ($105,060 close on June 6 to $106,550 open on June 8) was fully filled early on June 13 at around 00:00 UTC . This marked the sixth CME gap of the year to be closed—continuing a perfect 6-for-6 fill rate—with an average resolution time of roughly 29 hours. However, this particular gap took 98 hours to close—the longest duration yet .
Trackers of leveraged markets noted elevated funding rates and record-high open interest, particularly skewed toward long positions. Combined with thin weekend liquidity, this created conditions ripe for a macro-driven sell-off upon the outbreak of geopolitical unrest .
In essence, the event underscores how technical chart patterns—like CME gaps—remain relevant in the fragmented global crypto landscape. Institutional capital anchoring via CME Friday closes often draws prices back after dramatic moves, though extended fill times highlight the ongoing importance of risk management during uncertain periods .
#Bitcoin #CMEGap #CryptoVolatility #GeopoliticsCrypto
$BTC
Following Friday’s airstrikes by Israel on Iranian military and nuclear facilities—which escalated regional tensions—global markets experienced heightened volatility. Oil prices surged over 10%, gold rallied, and Bitcoin plunged by more than $5,000 in under 24 hours. This sharp move wiped out the weekend premium and triggered a rush of forced liquidations across crypto markets, with more than $1.1 billion in long positions liquidated .
A notable technical development accompanied this drop: Bitcoin’s CME futures market “gap” from the previous weekend ($105,060 close on June 6 to $106,550 open on June 8) was fully filled early on June 13 at around 00:00 UTC . This marked the sixth CME gap of the year to be closed—continuing a perfect 6-for-6 fill rate—with an average resolution time of roughly 29 hours. However, this particular gap took 98 hours to close—the longest duration yet .
Trackers of leveraged markets noted elevated funding rates and record-high open interest, particularly skewed toward long positions. Combined with thin weekend liquidity, this created conditions ripe for a macro-driven sell-off upon the outbreak of geopolitical unrest .
In essence, the event underscores how technical chart patterns—like CME gaps—remain relevant in the fragmented global crypto landscape. Institutional capital anchoring via CME Friday closes often draws prices back after dramatic moves, though extended fill times highlight the ongoing importance of risk management during uncertain periods .
#Bitcoin #CMEGap #CryptoVolatility #GeopoliticsCrypto
$BTC
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