Bitcoin fell to $84,000, filling the historical price gap of CME futures, and nearly $1 billion of long positions were forced to close

Odaily reports that the historical price gap in the BTC CME futures market was fully filled in the Tuesday afternoon Asian session, with BTC price falling back to $83,500, marking a correction of the gains on Monday. BTC rose to $92,000 on Monday, driven by US President Trump's announcement of establishing a strategic cryptocurrency reserve plan. The gap appeared between the closing price of $84,500 on Friday and the opening price of $95,300 on Monday. It is common for gaps in the CME futures market to be filled, and this phenomenon usually signals a market correction. In the past 24 hours, over $900 million in crypto futures long positions have been forcibly liquidated, with losses exceeding $1.5 billion in the past three days. Nearly $400 million in BTC long positions were liquidated in the past 24 hours, mainly occurring during the transition between US and Asian trading sessions. However, another gap below $80,000 in CME futures is also being watched, which formed three months ago after Trump's election as president, when BTC price first broke through $81,000.