## Bitcoin Price Drops to Fill CME Gap Bitcoin (BTC) recently experienced a price dip, falling to around $11,400 on August 1st and filling the CME gap. This price movement, observed on the Binance USDT spot market, has sparked debate among analysts about Bitcoin's short-term future. ## Market Sentiment and Potential Scenarios Cointelegraph reported that some traders attribute the decline to negative market sentiment stemming from US tariffs. While the filling of the CME gap is seen by some as a bullish signal, suggesting a potential resumption of the upward trend, others express caution. Experts warn that if Bitcoin fails to reclaim the $11,600 level, a further drop to $10,400 could be possible. The cryptocurrency market exhibited a steeper decline compared to traditional risk assets like the S&P 500, highlighting its volatility. Investors should closely monitor Bitcoin's performance around these key price levels to gauge its trajectory. ```

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