Fundstrat: Bitcoin May See ~30% Sharp Moves in the Next 60 Days, Direction Uncertain

Odaily Planet Daily News Fundstrat Head of Digital Asset Strategy Sean Farrell stated that Bitcoin's price volatility over the past 30 days is at one of the lowest levels in history, and historical data shows that periods of low volatility are often followed by significant price movements. In the 8 similar instances tracked, Bitcoin's median absolute price change over the subsequent 60 days was 30.2%, with 4 increases and 4 decreases, indicating that the signal primarily points to the magnitude of volatility rather than a specific direction.

Farrell also noted that Monday's roughly 2% rebound in Bitcoin was mainly driven by short covering, with open interest on a coin-based basis falling about 8% since last Friday. He believes that persistently rising real yields could act as a potential catalyst to break Bitcoin out of its current low-volatility state. (beincrypto)