Bitcoin (BTC) poked its head above the much-hyped $10,000 support level over the weekend, even reaching a peak of about $10,160 on Sunday, only to drop suddenly to its current trading price of $9,850, according to data from CoinMarketCap. This movement saw Bitcoin filling a closing “gap” from CME Group’s Futures on Friday.
CME’s futures closed at $9,850 on Friday, which is more or less exactly where Bitcoin ended up trading this morning. “This was a fairly mild dip. A backtest of the weekend breakout and the CME gap was a high probability,” say news reports. “The question is if we can quickly reclaim 10k or need to test lower.”
As for the wider crypto market, it currently boasts a total market cap of around $283 billion, which is still a bit higher than the $278 billion it entered the weekend with.