- Bitcoin holds the $72.5K-$73.3K support zone as traders watch for a move toward the CME gap.
- The unfilled CME gap near $75.4K remains a key target as futures trading transitions to 24/7.
- CryptoQuant CEO Ki Young Ju says Bitcoin’s bearish phase could last until early 2027.
Bitcoin remained under close watch heading into the new trading week as market participants centered on a technical setup that could determine the asset’s next short-term move. After falling nearly 10% over the past 20 days, Bitcoin has begun to stabilize near a key support area.
The market structure has drawn attention to the region between $72,500 and $73,300, where Bitcoin repeatedly rejected lower levels despite several attempts by sellers to push prices downward. Multiple candles formed long lower wicks in that zone, meaning that demand emerged each time the asset approached support.
At the same time, analysts are following a CME gap between approximately $74,800 and $75,400.
CME Gap Becomes Key Focus for Traders
According to market analyst CrypNuevo, the recent downside wick between $72,500 and $73,000 could become an important area for a possible long position if Bitcoin revisits the zone. The analyst noted that markets often retrace large wick imbalances before attempting a move higher.
The CME gap has drawn additional attention as CME’s Bitcoin futures market transitions to continuous trading, eliminating the traditional Friday-to-Monday gaps that traders have long monitored.
Support Holds Despite Recent Market Weakness
On Binance’s 12-hour chart, Bitcoin continued to defend the support band between $72,500 and $73,300. Repeated rejections of lower prices helped Bitcoin remain above the range, even as the broader trend remained under pressure.
While buyers have successfully defended support in the short term, Bitcoin remains below a descending moving average, suggesting that the broader trend has yet to turn bullish.
ETF Outflows and Market Outlook Shape Sentiment
Bitcoin’s recent weakness coincided with a slowdown in spot Bitcoin ETF demand. Since May 15, spot Bitcoin ETFs have recorded ten consecutive trading days of net outflows totaling more than $2.8 billion.
Broader macroeconomic developments have also influenced market conditions. Bitcoin fell about 3% during the past week as renewed military exchanges and mixed diplomatic signals involving Washington and Tehran weighed on investor sentiment.
Meanwhile, CryptoQuant founder and CEO Ki Young Ju recently stated that Bitcoin’s bearish phase may extend into early 2027. He argued that previous market cycles typically experienced extended periods of profit-taking before sustained recoveries emerged.
Related: CME Moves to 24/7 Bitcoin Trading Structure as Three Key Gaps Remain Unresolved
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