Bitcoin Soars! CME Gap Closure Sparks Wild Ride 🚀🔥

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Bitcoin leaps, mocks gravity, and then dips – like a rebellious kid refusing bedtime. The CME gap finally closed, and everyone’s eyes are glued, hoping for a bullish dawn. Meanwhile, institutional giants seem to shrug and say, “We’re in this for the long haul – or at least until lunch.”

 

Bitcoin, that curious beast, did a little dance after puffing through the CME gap. Traders, with their coffee-fueled optimism, whisper about a fresh rally-perhaps just in time for the weekend.

The price flickered below $118,000, nearly causing a panic – until it remembered it’s supposed to bounce. From the depths of $117,500, Bitcoin shot up like a rocket, fueled by US inflation data, liquidations, and traders desperately trying to look smart on Twitter.

Bitcoin CME Gap Closure and Market Reactions: Comedy of Errors

Crypto analyst Ted “Pillow-Hands” Pillows pointed out that Bitcoin rebounded right at $117,500 after the CME gap disappeared.

His crystal ball suggests this might be the end of the recent tumble, heralding a new rally – or at least enough to buy more pizza. The rebound followed a dramatic retreat from an all-time high of $124,474, proving that even cryptocurrencies like a good comeback story.

The Bitcoin CME gap has now been filled.

And after that, the bounce exactly from the $117.5K level.

Now I think that the worst is in for BTC and a new rally will start.

– Ted (@TedPillows)

Earlier in the week, thanks to US CPI data, everyone thought “Rate cuts! Woohoo!” Only to be reminded that inflation is like that one friend who promises not to drink, but does anyway.

Then came hotter-than-expected Producer Price Index data, and suddenly, everyone’s risk appetite went into hiding faster than a cat when you open the fridge. Bitcoin, feeling the heat, dipped below $118K, taking with it billion-dollar long positions and pride.

Jelle, the analyst with a flair for dramatic predictions, claimed Bitcoin managed a decent recovery post-PPI sell-off. Mentioned that 75% of the CME gap was sewn up, and if Bitcoin psychologically holds $120K, the next step might just be actual price discovery (fancy talk for “let’s see where this leads”).

Institutional Players and Big Money’s Silent Cheer

Meanwhile, the big players, the corporate whales, kept their wallets open. Strategy, Metaplanet, Capital B – they’re not just chasing moonshots, they’re stacking sats. Public companies now own over 70% of the crypto pie, with holdings jumping from 1.1 million BTC to a staggering 1.77 million BTC-because apparently, they’re playing “buy and hold” with a vengeance.

Net inflows into Bitcoin spot ETFs clocked over half a billion dollars, proving that even in chaos, institutional investors find their calm (or at least pretend to).

Trader Mood and Technical Hype: ‘This Year’s Trading Circus’

Crypto Chase, the man with more analysis than a college thesis, described Bitcoin’s recent antics as “the most free basic short of all time.” Failed pushes, swing failures, patterns so predictable you’d think even your grandma could trade them – it’s like a playground of chaos.

Imagine we top on a first try SFP on . No 2nd push, no deviate the SFP for a bit, just the most free basic short of all time. This year’s PA is really something else. Previous ATH retests, free SFPs. First-year traders gonna retire same year at this rate. Can we get normal PA?

– Crypto Chase (@Crypto_Chase)

Despite the rollercoaster, derivatives traders remain calm-futures premiums and options delta skew dance in a perfect ballet, suggesting no one’s betting the farm on either epic crash or moon mission, at least for now.

The Golden Question: Support, Resistance, and Hope

Bitcoin’s comfy at around $118,800-like a cat on a sunny windowsill. Key support? $116,000. Hold that line, and perhaps, just perhaps, Bitcoin might eye $124,474 – or at least another weekend of pretending everything’s fine.

Indicators whisper “upward potential,” with RSI at 54 and a bullish MACD crossover adding some sparkle. If $120,000 becomes a safety net, we might finally crawl into the hole called “price discovery” – just watch out for macroeconomic storm clouds.

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2025-08-16 01:48