Bitcoin’s CME chart shows the 200-day MA near $104K, offering an alternate view from the $108K spot market levels.
Price strength above $104K aligns with institutional bullish sentiment, reinforcing key technical support on longer timeframes.
A steady market cap above $2 trillion and active trading volumes show consistent liquidity and investor confidence.
Bitcoin’s market structure presents a contrasting view between CME Futures and spot exchange charts, as institutional and retail traders analyze the asset’s behavior near its crucial long-term moving averages.
Divergence Between CME and Spot Market Levels
The recent CME Bitcoin Futures chart reveals a notable structural difference from standard spot charts. The divergence stems from CME’s trading schedule, as it remains closed during weekends. Consequently, this omission of weekend data affects the computation of key moving averages, particularly the 200-day MA and EMA.
Analyst Daan Crypto Trades noted this discrepancy, pointing out that CME’s 200-day averages rest near $104,000, while spot markets position them closer to the $108,000–$110,000 range. The variation provides institutional investors with a more stable technical reference, as CME data filters out short-term weekend volatility.
$BTC's CME Chart is looking quite a bit different than the regular charts. This is because it misses a lot of price action from the weekend's (when it's not open for trading).
This makes it so the Daily 200MA/EMA are sitting at $104K instead of $108K-$110K.
And as you can see… pic.twitter.com/H0qmMqUZ4y
— Daan Crypto Trades (@DaanCrypto) November 9, 2025
These long term averages have historically served as dynamic support zones in greater uptrends. The present arrangement resembles previous stages observed in late 2024 and April 2025, in which the Bitcoin trend tested the same levels and proceeded to move upwards. It is important to have the range of $104,000 to maintain the bullish market trend of the asset in the coming months.
Technical Context and Institutional Behavior
On the CME chart, Bitcoin’s price has consistently respected the 200-day averages, maintaining a structured sequence of higher lows. Each retest of this level has historically signaled renewed accumulation from long-term traders, marking it as a pivotal area of market confidence.
The current November 2025 price activity shows that Bitcoin is regaining this support dynamic level once again. The price is as of writing, at approximately $104,617 and it is up 2.49% in 24 hours. The trading volume was up to 56.44 billion an improvement of 3.28% which is an indication that the move is not driven by speculative spikes but by strong liquidity.
Bitcoin is firmly placed close to its inherent supply limits with a market capitalization of $2.08 trillion and fully diluted valuation of $2.19 trillion. Institutional traders viewing the CME chart may interpret this as an opportunity to defend long-term support, given its clean representation of trend strength.
Broader Market Sentiment and Upcoming Developments
Beyond the technical analysis, market sentiment appears robust. According to the coinmarketcap data, 82 percent of participants in the market have a positive outlook, and only a minimum of 18 percent have a negative outlook. This is an indicator of an increasing investor confidence since Bitcoin is maintaining major price ranges even when the wider market is volatile.
According to market commentary by Crypto.Andy, other events that are taking place in November 2025 are also adding to the optimism. The introduction of new projects and token sales, such as Immunefi, SynFutures, and RepublicX, are causing things to move and further enhance positive sentiment within the digital asset space.
The bigger picture of institutional involvement is in favor of the increased institutional participation as the Bitcoin gathers momentum above its CME-based 200-day averages. The 104K mark is the place to observe to keep the momentum on high timeframes and resurgence of the current trend. The congruence between the technical structure, the volume of trade, and sentiment support the role of Bitcoin as a strong and efficient market leader in the final quarter of 2025.
