Bitcoin retreats from recent peaks as investors monitor CME gap and Kelp DAO fallout

Bitcoin has pulled back from Friday’s rally as market participants assess a CME futures gap, a DeFi hack rattles altcoins, and macroeconomic pressures dampen sentiment.

Key Takeaways:

— Bitcoin and ether declined, yet a CME futures gap is sparking hopes for a potential upward movement.

— A $292 million exploit linked to rsETH has ignited fears of DeFi contagion, reducing Aave’s total value locked and pressuring altcoins.

— Escalating oil prices and softer equity futures have weighed on risk assets, highlighting Bitcoin’s relative strength.

The cryptocurrency market has returned to familiar trading ranges after a brief surge to its highest level since early February on Friday.

Bitcoin

One bullish factor for traders is the CME futures market, a platform favored by institutional investors, which closed at $77,540 on Friday and opened at $74,600, creating a