According to Francisco Rodrigues, crypto prices rose with global equities after a U.S.-brokered ceasefire between Iran and Israel reduced oil supply fears, lifting Bitcoin to near $107,000. Susannah Streeter of Hargreaves Lansdown highlighted concerns that the truce may not hold due to U.S. intelligence reports. Federal Reserve Chair Jerome Powell's emphasis on patience with rate cuts, citing inflation and tariff risks, adds short-term uncertainty but supports risk assets, as noted by Bitunix analysts. Traders are monitoring Powell's Senate testimony, U.S. economic data like durable goods orders, and crypto events such as the CME spot-quoted futures launch. Jake O from Wintermute reported derivatives activity suggesting tight Bitcoin price action around $105,000 with modest bullish calls.

According to Crypto Rover, the Bitcoin CME gap has not been filled yet as of June 9, 2025 (source: Crypto Rover, Twitter). This unfilled gap can act as a significant magnet for Bitcoin price action, as traders often watch these levels for potential retracements or breakouts. Historical data shows that Bitcoin tends to revisit CME gap levels, which may present strategic trading opportunities for both long and short positions. Crypto market participants should closely monitor the unfilled gap to anticipate possible volatility and trading setups driven by institutional activity on the CME futures market.

According to Trader Tardigrade, Bitcoin is breaking above a key trendline on the CME futures H4 chart, confirmed by an RSI breakout that indicates strong bullish momentum (source: @TATrader_Alan, Twitter, June 5, 2025). This technical setup suggests increased institutional interest and a potential continuation of the BTC price rally. Traders should monitor resistance levels and volume, as sustained momentum on CME derivatives often leads the spot market and impacts overall crypto market sentiment.

According to Crypto Rover, the presence of a Bitcoin CME gap has been identified as of June 2, 2025 (source: Crypto Rover on Twitter). CME gaps, which occur when Bitcoin's price moves during the weekend when the Chicago Mercantile Exchange is closed, often serve as significant short-term trading indicators. Historically, these gaps are frequently filled, meaning Bitcoin's spot price may retrace to the gap level, impacting immediate trading decisions. Traders are monitoring this gap for potential entry and exit points, as gap fills can trigger volatility and liquidity shifts in both spot and derivatives markets (source: Crypto Rover on Twitter).

According to glassnode, the unwinding of the cash-and-carry trade is occurring as the long-side bias weakens, signaled by ETF outflows and CME futures closures. This shift in positioning is adding selling pressure to spot markets. ETFs, which possess lower liquidity compared to futures, may exacerbate short-term volatility.

According to AltcoinGordon, JPMorgan has indicated a potential correction in the crypto market, pointing to a decline in Bitcoin and Ethereum demand on the CME futures market. Additionally, institutional investors are taking profits, and key US crypto initiatives are delayed until the second half of 2025, which could extend the bull run.