- Bitcoin futures on CME experienced a flash crash.
- At the time of writing, the prices have recovered to $9.300.
Bitcoin futures on Chicago Mercantile exchange experienced a flash-crash and touched $8,270 low before reverting to $9,300.
The prices closed the gap created in the end of October. Gaps – a situation when the next session opens at a price which is significantly lower or higher than thee closing price of the previous session tend to be closed – tend to be closed sooner or later.
Many experts believe that bitcoin usually return to the level of the gap and close it. However, the sharp collapse on CME raised concerns even among those who believe in this theory.
“I cannot believe how crazy trading BTCUSD on the short term is right now. The gap on the CME has filled already. It’s thinly traded yes. But man, I’m highly suspicious of the price action across all the exchanges of late, more so than usual,” crypto Twitter user Willy Woo wrote.
Notably, the total value of the opened interest in bitcoin on CME more than doubled in October, while institutional longs reached the highest level on=f the month.
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