Bitcoin volatility returns as CME gap trading collides with Iran risk
The post Bitcoin volatility returns as CME gap trading collides with Iran risk appeared on BitcoinEthereumNews.com. The crypto market started the week in a volatile mood, with bitcoin BTC$81,101.08 rising from $80,670 at 23:00 UTC on Sunday before topping out at $82,400 an hour later. The price subsequently dropped to trade in a fairly narrow range just beneath $81,000. The move coincided with the weekly open of bitcoin futures on the CME and U.S. equity futures — a period that often sparks a frenzy of repositioning and a phenomenon called the “CME gap,” which occurs when the price opens at a different point to where it closed on Friday. Due to the timing of the move, all crypto benchmarks are down on Monday with the broad CoinDesk 100 (CD100) leading the way at a 1.5% loss while the bitcoin-dominant CoinDesk 5 (CD5) dropping 0.6%. Price action is also being dictated by geopolitical developments in Iran. U.S. President Donald Trump said Iran’s response to a peace proposal was “totally