The problem is that the CME gap (9.6k-9.8k) didn't fully fill up....
GJMRealEstate
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@nomisl, this idea about the Chicago Mercantile Exchange gap needing to fill is all over twitter and trading view.
Me personally, I dont see how it matters one bit. Bitcoin trades on hundreds of exchanges 24/7, 365 no holidays.
Wall Street would love for the crypto market to work like the stock market where they get to take weekends off, no trading during lunch, open at 9:30 and close at 4pm, so they can spend time in the Hamptons and not have to worry.
I don't buy it. The crypto markets are not to be reigned in by some exchange in Chicago. This market belongs to the world.
nomisl
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@GJMRealEstate, I don't claim to be an expert....I've been following cryptos since Nov 2017 (so saw BTC futures introduced and all). I initially heard about these gaps around 1.5 years ago and I didn't really believe in them having to be filled and all. But call it coincidence or whatever....all gaps have been filled over time. When I think about it...why would BTC cash futures affect the actual BTC price...I still don't get it...but so far those gaps seem to play a role...I would prefer it didn't but so far I'm convinced that it does.....