Bitcoin Nears $113,900 Resistance Amid CME Gap and Balanced Short-Term Sentiment
Main Idea
Bitcoin is testing a key resistance level near $113,900, influenced by a CME futures gap and balanced investor sentiment, indicating a healthy market without panic.
Key Points
1. Bitcoin is currently testing the $113,900 resistance level, with slight price fluctuations observed.
2. A CME futures gap between $112,500 and $113,900 is creating technical pressure, as prices often move to fill such gaps.
3. The Spent Output Profit Ratio (SOPR) is near 1.03, indicating balanced sentiment among short-term investors without panic selling.
4. ETF demand remains stable, contributing to a steady market outlook.
5. Historical data shows that CME gaps tend to be filled, making the $113,900 zone a focal point for traders.
Description
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