The Chicago Mercantile Exchange (CME) recorded its largest-ever Bitcoin futures gap on March 2, following US President Donald Trump’s announcement of a US crypto strategic reserve. The move triggered a surge in Bitcoin prices and injected over $300 billion into crypto spot markets.
According to TradingView data, the announcement opened a $10,000 CME Bitcoin futures gap, surpassing the previous record of just over $4,000 set in August 2024. Asymmetric founder Joe McCann highlighted the unprecedented gap on March 2.
Bitcoin Price Surge and Market Reaction
Bitcoin’s price skyrocketed from around $85,000 to nearly $95,000 following Trump’s announcement that the US crypto reserve would hold Bitcoin (BTC) and other digital assets. The surge filled a smaller CME gap between $92,800 and $94,000, which had opened during last week’s market dip.
However, the rapid price spike also created a fresh $10,000 gap between $84,650 and $94,000, according to crypto analyst Rekt Capital.
What Are CME Gaps?
CME Bitcoin futures gaps occur due to the difference between the closing price of Bitcoin futures on Friday and the reopening price on Sunday evening. Since crypto markets operate 24/7 while traditional markets like the CME are closed on weekends, price fluctuations often create these gaps.
Traders closely monitor these gaps as they can act as support or resistance levels. Many believe that Bitcoin prices tend to “fill” the gaps—returning to the price range where the gap occurred—though this process can take months.
“In the 2021 bull cycle, we had two large gaps that only came back to get filled in the bear market,” noted crypto YouTuber Sommi on X.
Altcoins Rally as Bitcoin Dominance Dips
While Bitcoin surged, its market dominance slipped from 55.4% to below 50%, as traders shifted their focus to altcoins, which posted notable gains.
With the market eyeing the massive futures gap and rising altcoin momentum, traders are bracing for increased volatility in the coming weeks.
