- Bitcoin price surged to $95K after Trump’s crypto reserve announcement.
- A record $10K CME futures gap hints at potential price retracement.
- Bitcoin dominance fell below 50% as altcoins gained momentum.
Bitcoin price rose to $95,000 after U.S. President Donald Trump made a statement on the U.S. crypto strategic reserve on March 2. This led to a $10,000 CME futures gap, which is the largest gap ever recorded in the Bitcoin market. Notably, the previous record was $4,060, achieved in August 2024.
More than $300 billion entered the crypto market, fueling the Bitcoin rally from $85,000 to nearly $95,000. As the market responded, Bitcoin price dominance fell below 50%, allowing altcoins to gain strength. Analysts now question whether Bitcoin price will fill the gap or continue its bullish momentum.
Bitcoin’s $10K CME Gap Sets a New Record
According to TradingView, Bitcoin price opened the week with a massive $10,350 CME futures gap. CME gaps form when Bitcoin price moves significantly over the weekend while traditional markets remain closed. When trading resumes, the opening price often differs from Friday’s closing price.
Historically, Bitcoin price has filled most CME gaps, suggesting a possible retracement to $84,650–$94,000. Crypto analyst Joe McCann confirmed the record-breaking gap in a March 3 post on X. Many traders now believe Bitcoin may pull back before resuming its uptrend.
Bitcoin price Fills a Previous CME Gap
Furthermore, Analyst Rekt Capital noted that Bitcoin price has already filled a prior CME gap between $92,800 and $94,000. However, this move created a new gap in the $84,650–$94,000 range. Traders now speculate on a possible retracement to these levels.
In the bull market of the year 2021, two gaps were opened which were filled only when the bear market came in months later. According to some analysts, the same thing may happen in the following months. However, others believe that due to the strong bullish trend and lack of adequate selling pressure, Bitcoin price will not pull back to the lower levels again.
Will Bitcoin Price Fill the Gap or Keep Rising?
Market analysts have described two possible situations that affect Bitcoin in the short run. Yet, if history will repeat itself, $85,000 may be tested once again before a breakout. If buying pressure persists, Bitcoin price may easily go past the $95,000 level and further extend its upsurge.
The $94,000–$95,000 zone acts as a critical level that could determine Bitcoin’s next major move. If bulls push the price higher, Bitcoin could quickly target $100,000 in the coming weeks.
Interestingly, Bitcoin share decreased from 55.4% to slightly below 50% thus enabling the altcoins to move higher. Some altcoins that received a notable boost include Ethereum, Solana, and Cardano. The announcement of Trump’s ‘crypto reserve’ further helped to propel some altcoins to even greater heights.
Institutional Investors Influence Bitcoin Price
Large investors have a significant influence over the price action of the Bitcoin market. Many large funds and investment companies keep on investing in Bitcoin thus displaying long-term confidence in the digital currency. The recent rally increases demonstrate the likelihood of institutional adoption of cryptocurrencies.
Some investors might take profits at the current level which may cause short-term fluctuations. Some analysts think that BTC will continue its growth and shortly reach the $100,000 mark and above.
What’s Next for Bitcoin?
Currently, the market attention is on whether Bitcoin will sustain above 94,000 or retest lower levels. The price is likely to push even higher above $100,000 if it breaks above $95,000. However, if Bitcoin manages to fill the CME gap, it will be possible to observe a retracement to $85,000.
The following few days will decide whether Bitcoin will continue with the upward trend or whether there will be a pullback. The crypto market remains quite unsteady.