On Tuesday, the average bitcoin futures exchange rate on the Chicago Mercantile Exchange (CME) has dropped below $8,300, after which it returned to around $9,300, iHodl Russia reports.
The collapse made it possible to fill the gap that arose because the last trading session on the CME began at a higher rate than the previous one.
Often traders and their bots consider such gaps as a short-term signal and seek to fill them.
Analyst Willy Woo wrote:
"I cannot believe how crazy trading BTCUSD on the short term is right now. The gap on the CME has filled already. It's thinly traded yes. But man, I'm highly suspicious of the price action across all the exchanges of late, more so than usual."