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Bitcoin’s price, and that of the entire crypto-market remain in a state of pressure due to the low volatility the industry is experiencing. In spite of the fact that many traders expected a large move following yesterday’s US Federal Reserve decision to cut rates, Bitcoin held at its current level.
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Bitcoin’s price has shown signs of a potential decline despite the relative stability in top crypto and other currencies. BTC currently trades around $105,000 after a 2.3% drop over the previous seven days.
Bitcoin Price moving sideways for the past two months on daily chart. Source: BTCUSD on Tradingview
The Bitcoin price is Stuck but Not for long?
Daan Crypto is an analyst who shared some insights about the Bitcoin price. The analyst thinks that BTC is compressing in the recent weeks. In this sense, many traders are anticipating a spike of volatility.
On the chart below you can see that the Bitcoin price is trading in a narrow range. The monthly high of $110 600 and the monthly low of around $100,000 are the two key levels to watch. In this range there are 2 key levels: between $109,000 to $103,000.
Bitcoin could return to volatile price movement if this range is broken or broken. The cryptocurrency could reclaim the levels previously discussed on higher timeframes.
The analyst stated Please read the following.
BTC still hanging in around the $105,000 area, the mid-range of the month and the open for the next one. The price has been increasing and the market seems to be waiting for something big. Statisticians still strongly favor another displacement, especially in the coming month. Keep an eye out for these levels, and be sure to play according.
Bitcoin trading in a narrow range on the 4-hour chart. Source: Daan Crypto via X
Bitcoin’s Seasonality Could Surprise Traders
The separate report, trading desk QCP Capital claims that the Bitcoin price might be affected by ‘summertime blues.’ The firm also predicts that volatility will decrease as traders and institutions leave the market in July and August.
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QCP Capital says that the implied volatility of BTC is a sign of this market sluggishness. This indicator currently sits below 40%. The trading desk also predicts a more muted price movement in the next few weeks, and increased caution from operators.
(…) the Fed held interest rates steady. However, its position remains hawkish. The Fed is still expecting high inflation, and tariffs have been identified as the main upside risk. The Fed would rather keep interest rates low. “wait and see” Until there is greater clarity about inflation’s trajectory. The current data is contrary to what some macrowatchers believe.
Chart of BTC/USD from Tradingview. Cover image: ChatGPT.
“This article is not financial advice.”
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Source: www.newsbtc.com
