Bitcoin Nears $113,900 Resistance Amid CME Gap and Balanced Short-Term Sentiment

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.