Recently, the CME Bitcoin futures market has attracted the attention of investors. Although the spot market has experienced a certain degree of correction, the futures market still maintains a high price level. Specifically, there is an unfilled gap in the CME Bitcoin futures between $114,380 and $115,675.

The existence of this gap reflects some interesting phenomena in the market. Last Friday, despite the spot market price briefly dropping to around $114,500, the CME Bitcoin futures price remained above $115,500. This resulted in a significant premium of over $1,000 between futures and spot, indicating that a large number of investors still hold an optimistic view on Bitcoin.

Another point worth noting is the URPD (Unspent Realized Price Distribution) data. There is also an unfilled gap around $112,000. Historical data shows that gaps in the URPD tend to be filled eventually, which provides a potential reference point for future market direction.

However, the existence of these gaps should not be simply interpreted as bearish signals. They more reflect the complexity of market structure and investor behavior. When interpreting this data, investors need to consider more market factors and comprehensively assess the market conditions.

Overall, despite these gaps, the current market sentiment remains optimistic. Investors maintain confidence in the long-term development prospects of Bitcoin, as evidenced by the high premiums in the futures market. However, market changes are rapid and investors must remain cautious and closely monitor market trends when making decisions.