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Bitcoin balances at $85,000 with a gap in the CME exchange below: Is there an imminent move?
The price of Bitcoin has stabilized around $85,000 with the CME gap of $83,415 still open, indicating a potential short-term correction amidst low volatility over the weekend.
The correction of the Bitcoin price in the short term remains possible as the open CME gap from last week's trading session is still open despite Bitcoin stabilizing at $85,000 by the end of the weekend.
During the weekend trading, the price of Bitcoin remained within a narrow price range as trading volumes remained low as usual during these periods.
The progress in the value of Bitcoin primarily depends on economic conditions alongside institutional investment patterns and government regulations, as market opinion remains divided.
Bitcoin has maintained its stability near $85,000 over the weekend after a significant price surge last weekend. The cryptocurrency experienced less market volatility during this period, as traders focused on the unfilled gap at the Chicago Mercantile Exchange at the level of $83,415.