• Bitcoin trades near $108,500 with CME gaps at $92K and $117K drawing trader attention.
• Rising global liquidity creates favorable conditions for a potential Bitcoin breakout.
• Resistance at $115K–$120K could confirm the start of Bitcoin’s next major bull run.

Bitcoin is back in the headlines after analysts highlighted two significant price gaps on the CME futures chart. The initial gap was left around $92,000 back in April, and a second and much larger gap has formed this week around $117,000. Although these gaps are still far from the current level of trading, they can be significant price goals in the months ahead.

According to Daan Crypto Trades, non-filled gaps in CME futures charts would often eventually be filled. The smaller target return, $92,000, is farther away from the current price but still seems achievable, and the larger target return of $117,000 is near current prices.

He added that these gaps aren’t directly actionable but still serve as useful references for traders tracking Bitcoin’s long-term trajectory.

Bitcoin Consolidates as M2 Liquidity Surges

Currently, BTC holds the value of near $108,500. The price has been bouncing within a small range over the past sessions, displaying a pause in momentum. Such consolidation periods tend to lead to strong moves. When BTC finally breaks free of these ranges, it has historically provided strong moves in both directions.

Also Read: Bitcoin Extends 3-Day Rally as Supply Zones and Profit-Taking Shape Cycle

The move could be driven by a supply-side impetus in the macroeconomic environment. Global M2 money supply, a measure of the money supply, has been skyrocketing during the past few months to levels similar to all-time highs.

An increase in liquidity is generally a bullish condition for risk assets, and BTC is generally among the biggest beneficiaries when too much money flows into markets.

Analyst Ash Crypto highlighted the nature of the historical correlation between liquidity cycles and BTC rallies. He pointed out that the early patterns of BTC are such that it tends to lag liquidity growth, generating an initial divergence.

In the majority of cases, this lag is felt back as BTC recovers through a strong increase in price. In all previous cycles, this dynamic has produced extremely strong upward movements.

Bitcoin Lags Liquidity Before Strong Rallies

So this divergence is again reflected in today’s markets. Bitcoin is stuck in a narrow range, but liquidity is consolidating on the upside. Many market practitioners are certain to see the convergence of liquidity growth and bitcoin price. 

Resistance levels are now noticed at $115,000 and $120,000, with the latter being critical. A breakout from the most recent CME gap, at $117,000, would also boost bullish conviction even more. Any price movements above this level of $120,000 would almost certainly confirm the start of another market phase and, potentially, an overall bull run.

Additionally, external shocks, macroeconomic uncertainty, or changes in investor sentiment may slow Bitcoin’s response. While the backdrop seems healthy, the market remains watchful for both technical cues and liquidity dynamics for a clearer direction.

As record liquidity expansion is underway and as unfilled CME gaps are staring upon BTC, the bull asset finds itself at an important juncture. Whether the cryptocurrency rises to these levels soon or takes a bit longer, traders believe the conditions are ripe for its next big move up.

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