Bitcoin Price Retests $7.3K as Analyst Eyes New Bullish Futures 'Gap'

Bitcoin fell back towards support at the $7,250-$7,300 level on Dec. 1 after its latest sudden uptick began to fizzle overnight.

In particular, Cointelegraph contributor Michaël van de Poppe eyed a likely "Gap" in Bitcoin futures markets.

As Cointelegraph reported, Bitcoin price tends to "Fill" points in its price which fall between where one futures trading session ends and another begins.

A new gap will likely have opened up, van de Poppe said, as CME's contracts finished Friday trading at $7,805.

Last week, a gap at $7,200 was likewise swiftly filled.

Futures analysis delivered mixed results this week after CME's monthly contracts settled on Friday.

Data suggested that Bitcoin would likely gain following the payouts, but so far, an opposing price trajectory has characterized markets.

Overall sentiment among futures traders nonetheless remains bullish, with competitor Bakkt seeing record daily volumes for its own monthly contracts last week.

Altcoins lose ground to BTC. Altcoin markets meanwhile saw a disappointing 24 hours, with many major cryptocurrencies shedding around 5%. Ether, the largest altcoin by market cap, fell 4.2% to $147, while others fared worse.

The overall cryptocurrency market cap was $198.7 billion, with Bitcoin's share at 66.6%.Keep track of top crypto markets in real time here.