CME Bitcoin futures open with second-largest gap on record

Bitcoin opened the week with a sharp CME futures gap after January’s heavy losses, as weak liquidity and cautious positioning kept pressure on price.

Bitcoin-linked derivatives opened the new trading week with a sharp price gap after CME futures reopened nearly $6,800 lower, reflecting continued pressure following January’s weak close.

CME Bitcoin futures opened around $77,730, down from Friday’s close near $84,560, creating the second-largest gap on record. Spot Bitcoin (BTC) was trading in the high-$77,000 range as the market digested last week’s sell-off, which pushed BTC to a monthly close near $78,600 after a near 10% decline in January.

Trading activity picked up as volatility increased. Futures markets saw elevated turnover while leverage was reduced following last week’s liquidations, suggesting a more defensive stance

CME Bitcoin futures are regulated contracts mainly used by institutional investors, hedge funds, and professional traders. Because the exchange closes over the weekend, prices can diverge from the spot market, which trades around the clock. When futures reopen, large gaps can appear if Bitcoin has moved sharply.

These gaps often influence short-term trading behavior. Many traders watch closely to see whether the price moves back toward the previous close, a pattern that can drive additional volatility in the days that follow.

January decline shifts market tone

Bitcoin began January on a strong footing, opening in the high-$80,000 range and climbing toward the mid-to-high $90,000s in the first half of the month. Momentum faded by mid-January, and the price began trading in a wide range as sellers gained control.

By the final week, pressure intensified. BTC fell from the high-$80,000s and closed the month near $78,621, marking one of its weakest January performances in more than a decade.

According to an analysis by The Kobeissi Letter, the late-January drop was driven mainly by shrinking liquidity and heavy liquidations rather than macroeconomic news. The firm said excessive leverage in thin market conditions led to rapid position closures and a sharp drop in prices, with more than $1.3 billion in forced liquidations over two days.

Market analyst PlanB said January’s close confirmed a broader bearish shift. He pointed to the monthly relative strength index falling below 50 and noted that long-term averages are drifting toward the mid-$50,000 range. Based on past cycles, he said Bitcoin could revisit these levels, though he added that the current downturn may be more limited than previous bear markets.

Not all prominent investors share this view. Robert Kiyosaki said on X that he sees the recent decline as a buying opportunity and plans to increase his exposure to Bitcoin, gold, and silver during periods of market stress.

Bitcoin price short term outlook

From a technical standpoint, Bitcoin remains under pressure after failing to hold above the $80,000–$82,000 zone. The drop into the high-$70,000s has broken recent support and kept the short-term trend pointed lower.

Price is trading below key moving averages, which are now acting as resistance. Rebounds toward the $84,000–$85,000 area are likely to face selling interest, especially with the CME gap still open.

Support is clustered around $77,000–$78,000. A prolonged break below this range might pave the way for a more significant decline into the low $70,000s. To stabilize the structure and reduce downward pressure, Bitcoin would need to recover the mid-$80,000s on a daily close.