CME futures suddenly fall
On November 1 of this year, the CME futures contract closed at USD 8,715. Shortly after CME closed over the weekend, the price of Bitcoin gave a huge upward movement that reached USD 10,600, which meant a 42% rise in one day.
The large rise in the price of Bitcoin caused an empty gap in the CME futures chart, better known as "GAP". Many analysts agree that it is a necessary condition that these gaps be filled before the price has an organic rise in its price.
What happened today?
This Tuesday, November 5, CME's Bitcoin futures had a sudden price drop to USD 8,500 and then quickly recovered and lateralized again around USD 9,300.
Well-known analyst Willy Woo expressed himself about what happened and declared: “I can't believe how crazy the BTCUSD trade is in the short term at this time. The gap in the CME has already been filled. It negotiates little, yes. But man, I strongly suspect the price action in all recent exchanges, more than usual."
Like Woo, almost all analysts co-report that these sudden price movements increase suspicions of market manipulation. However, speculation does not go beyond that and everyone knows how risky this market is.