CME Gap Threatens Bitcoin With Potential Drop To $77,000 – Analyst

Some analysts raised their concerns that Bitcoin might experience a possible crash which will be driven by the Chicago Mercantile Exchange (CME) gap leading to a huge drop in its price.

Since Bitcoin needs to fill in the gap, crypto traders predict it might push the firstborn cryptocurrency near the critical CME gap, suggesting that its price could go as low as $77,000 per coin.

Bitcoin Could Slide To $77,000

Crypto analyst Egrag Crypto suggested that the massive corrections that Bitcoin has been experiencing could cause the coin to plunge to the $77,000 mark.

Egrag added that since October 2022, the flagship cryptocurrency has been subjected to about seven considerable drops, adding, “The average drop across these events is approximately 23.53%.”

#BTC Drop – Average Dump & CME (70K-74K): How & Why?

1⃣Average Drop: Since October 2022, #BTC has experienced nearly seven significant drops. Here are the percentage declines:

1) 22.70% 2) 20.18% 3) 21.70% 4) 21.42% 5) 23.27% 6) 25.82% 7) 29.65%