Key points:<\/strong><\/p>\n Bitcoin bounces back with a trip to $114,000 at the Wall Street open.<\/p>\n<\/li>\n Traders remain wary of a retracement, especially thanks to a new weekend CME gap opening at $110,000.<\/p>\n<\/li>\n Macro analysis sees good odds of another \u201cUptober\u201d for crypto.<\/p>\n<\/li>\n<\/ul>\n Bitcoin (BTC<\/a>) continued its sudden rebound at Monday\u2019s Wall Street open while traders stayed cautious.<\/p>\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed that BTC\/USD hit $114,000 as daily gains surpassed 1.5%.<\/p>\n An unlikely weekly close above $112,000 set the pair up for a strong first Asia session, which also saw gold make new all-time highs.<\/p>\n As short-term BTC price action appeared to follow, traders were anything but relaxed. A new \u201cgap\u201d in CME Group\u2019s Bitcoin futures market formed a key reason to expect lower levels.<\/p>\n \u201c$BTC now has a CME gap around the $110,000 level,\u201d crypto investor and entrepreneur Ted Pillows summarized in a post on X<\/a>.\u00a0<\/p>\n \u201cBitcoin has filled every CME gap in the last 4 months, so this could most likely get filled. Keep an eye on it.\u201d<\/p><\/blockquote>\n As Cointelegraph reported<\/a>, CME gaps tend to act as price \u201cmagnets,\u201d attracting the market to fill them within weeks, days or even hours.<\/p>\n \u201cIdeally we come back & close this if we want a clean move higher this week,\u201d Nic Puckrin, CEO and cofounder of crypto adoption platform Coin Bureau, argued<\/a>.<\/p>\n To fill the gap, BTC\/USD would need to slice through a new mass of bid liquidity centered on $111,000, according to data from CoinGlass.<\/p>\n Exchange order-book liquidity continued to drive momentum, with 24-hour crypto liquidations passing $400 million at the time of writing.<\/p>\n On Saturday, Keith Alan, co-founder of trading resource Material Indicators, called liquidity above price \u201cpaper thin\u201d below $115,000.<\/p>\n \u201cI especially expect things to get spicy around the Weekly Close on Sunday and continue into the Monthly close on Tuesday,\u201d he predicted<\/a> at the time.<\/p>\n As gold consolidated after its earlier high of $3,831 per ounce, Bitcoin followed a bullish start to the week for US stock markets.<\/p>\n\n
CME gap cools excitement over Bitcoin rebound<\/h2>\n
\u201dUptober\u201d odds flip with BTC price<\/h2>\n