Bitcoin Could Fall to $70K Range, Warns Analyst, Citing CME Gap

A well-known crypto analyst is warning that Bitcoin (BTC) could soon fall back to the $70,000 range, citing a potential gap in the CME chart.

Justin Bennett suggests that Bitcoin may revisit the $77,360 level, as gaps between the Friday and Monday closing prices on the CME often get filled.

Specifically, he refers to a gap from November of last year, indicating a possible dip toward the $78,260 range after Bitcoin was recently rejected by the $92,000 resistance level.

Bennett remains skeptical of Bitcoin’s ability to break the $92,000 barrier, despite recent rallies, pointing out that this level has proven to be a strong point of resistance.

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He also dismisses the potential impact of the upcoming White House Crypto Summit, where discussions about the U.S. Crypto Strategic Reserve are expected.

According to Bennett, the event is unlikely to spark a lasting rally, and could instead turn into another typical “buy the rumor, sell the news” situation.

Alexander Zdravkov