CME Shifts to 24/7 Crypto Trading, Quantum Computing Poses Long-Term Risk

The CME Group has announced that it will begin trading its cryptocurrency futures and options market on a 24/7 basis, starting May 29. This change is pending regulatory review and is expected to impact the 'CME gap' pattern in Bitcoin's price chart.

For years, traders have been waiting for this news, as crypto spot markets are always open except for CME, which used to be closed on weekends. The new schedule will run through Globex and ClearPort around the clock, including weekends and holidays. Trades made from Friday evening through Sunday evening will carry the next business day's trade date.

Under the old schedule, CME Bitcoin futures stopped trading for the weekend, resulting in a gap between the last trade on Friday and the opening print on Monday. This gap has been a key technical indicator for traders, with 79 of the previous 80 CME Bitcoin futures gaps having filled.