Bitcoin Futures Record $10,000 Gap After Trump’s Crypto Reserve Announcement

Bitcoin futures saw an unprecedented $10,000 gap over the weekend, marking the largest-ever gap recorded on the Chicago Mercantile Exchange (CME). This came in the wake of US President Donald Trump’s announcement on March 2 that the country would establish a "crypto strategic reserve" to hold Bitcoin and other crypto assets.

Massive Market Movement Fuels CME Gap

Following Trump’s announcement, more than $300 billion flowed into the spot markets, propelling Bitcoin's price from around $85,000 to nearly $95,000. This sharp surge created a significant gap in CME Bitcoin futures, which trading data shows at over $10,000.

According to Joe McCann, founder of Asymmetric, this gap eclipses the previous record set in August 2024, which was just over $4,000. The CME gap represents the difference in Bitcoin’s price between the close of CME Bitcoin futures trading on Friday and the reopening of trading on Sunday evening. Since cryptocurrency markets operate 24/7, while traditional markets, like the CME, are closed over the weekend, these gaps are often observed by traders.

Filling and Creating Gaps

On March 2, Bitcoin briefly touched $94,000, filling a smaller CME gap that had opened the previous week when the price of Bitcoin dipped. Analyst Rekt Capital noted that Bitcoin had filled this gap but had simultaneously created a new, larger gap ranging from $84,650 to $94,000.

Many traders pay close attention to these gaps, as they are often seen as potential support or resistance levels. Historically, gaps like these tend to get filled over time, although this process can take months. During the 2021 bull market, two large gaps remained unfilled until the subsequent bear market.

Bitcoin Dominance Drops Amid Altcoin Surge

In addition to the CME gap, Bitcoin dominance has taken a hit, falling from 55.4% to below 50%. This drop occurred as altcoins, including those like Cardano (ADA), Solana (SOL), and XRP, saw significant gains following the announcement of the crypto reserve.

Bitcoin’s dominance often acts as a barometer for investor sentiment in the crypto market, and its recent dip suggests a shift in market dynamics, with more capital flowing into altcoins.

The CME Gap: A Key Trading Indicator

For traders, CME gaps are more than just market anomalies; they’re viewed as important technical indicators. Traders often anticipate that Bitcoin’s price will eventually return to fill these gaps, creating potential buying or selling opportunities. In some cases, these gaps can take months to fill, depending on market conditions.

As Bitcoin’s price continues to fluctuate and adjust, the $10,000 CME gap remains a focal point for traders monitoring the market’s next moves.