- Bitcoin trades near $69,000 CME gap during Sunday correction.
- Analyst expects price to stay near $69K until Monday open.
- Altcoins show relative strength during Bitcoin consolidation.
Bitcoin traded near the $69,000 level on Sunday as a familiar market pattern returned. Analysts linked the move to an open CME futures gap at that price. Market participants now watch Monday’s open for the next direction.
Michaël van de Poppe stated that Bitcoin often reacts to CME gaps during weekends. He said, “Bitcoin has a classic correction on Sunday.” He added, “Because the CME gap is at $69K.”
Bitcoin Trades Around CME Gap at $69K
Bitcoin hovered around $69,051 during the session, according to TradingView data. The chart showed a recent decline followed by short-term consolidation. A marked zone indicated a potential bounce area slightly below current levels.
Van de Poppe said the price may remain near this range until the futures market reopens. He noted, “Probably we’ll stay around this level until Monday open.” He also stated that price could then move back toward recent highs.
The chart displayed resistance levels near $74,500 and higher zones above $80,000. Volume bars showed increased activity during the recent drop. The blue moving average line tracked the short-term trend during the correction.
Altcoins Show Relative Strength During Bitcoin Pause
While Bitcoin consolidated, altcoins showed firmer price action. Van de Poppe stated, “Still, the Altcoins are acting stronger.” Several alternative cryptocurrencies held support levels despite Bitcoin’s pullback.
Market data indicated that some altcoins posted smaller losses compared to Bitcoin. Traders observed steady buying activity in selected tokens. This occurred even as Bitcoin tested the $69,000 area.
Bitcoin CME gaps have influenced weekend price action in past cycles. Traders often monitor these levels as reference points. The current setup places focus on the Monday market open and potential continuation toward prior highs.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
