Bitcoin Faces Key Test as New CME Gap Forms Between $82,500 and $84,100

Bitcoin’s value has continued to slide since Friday, reaching a two-week low of just above $81,000 earlier today. The leading crypto has struggled to regain momentum, recording a substantial 6.28% drop over the past week. 

Meanwhile, altcoins have been hit harder, experiencing significant declines in double digits.
CME Gaps and Bitcoin Futures
Bitcoin’s price movement has caught the attention of technical analysts, especially regarding CME Gaps. A chart shared by Rekt Capital highlights that Bitcoin has recently filled the general CME Gap area between $82,000 and $85,000.

However, a new CME Gap has formed over the weekend, ranging from $82,500 to $84,100. This unfilled gap has become a key area of focus for traders, who are closely monitoring whether Bitcoin will continue its upward momentum or if the gap will be filled.

For context, a CME gap occurs when Bitcoin’s price moves significantly over the weekend while the CME Bitcoin futures market is closed, creating a gap on the chart when the market reopens. Historically, Bitcoin has often filled these gaps, making them an important area of focus for traders.

The current unfilled gap between $82,500 and $84,100 has garnered attention, as it could influence Bitcoin’s short-term price action and potential market moves. The market is expected to react strongly when this new CME Gap is tested.
Potential Upside for Bitcoin Price
Meanwhile, Bitcoin’s long-term prospects have sparked optimism among some analysts. Captain Faibik pointed out that Bitcoin has been consolidating within a falling wedge pattern for the past four months. He believes the correction phase is nearing completion, and Bitcoin may be preparing for a bullish rally. 

Faibik anticipates a breakout from the Falling Wedge pattern at the start of April, with a potential new all-time high above $109K by the end of the month.

Moreover, Faibik noted that big players in the market have been accumulating Bitcoin heavily while newer investors are still waiting for a potential dip.
Whale Activity and Short-Term Holder Data
In addition to the technical analysis, Glassnode data provides insight into Bitcoin’s network wealth distribution. 

Short-term holders now account for approximately 40% of Bitcoin’s network wealth, a drop from nearly 50% earlier in 2025. This figure remains significantly lower than the peak of previous cycles, where new investor wealth reached 70-90%. 

Short-Term Holders currently hold around 40% of #Bitcoin's network wealth, after peaking near 50% earlier in 2025. This remains significantly below prior cycle tops, where new investor wealth peaked at 70–90%, suggesting a more tempered and distributed bull market so far. pic.twitter.com/G6se9dcyBW

— glassnode (@glassnode) March 31, 2025

Elsewhere, Bitcoin whales have shown increased confidence, with recent data revealing an accumulation of 129,000 BTC since March 11. This marks one of the strongest accumulation periods since August 2024. Typically, accumulation periods are followed by price surges as supply declines.