Bitcoin may be entering its quietest market period since January, according to on-chain analytics firm Glassnode. The cryptocurrency market is experiencing remarkably little volatility, with the classic 20-day Bollinger Bands undergoing an extreme squeeze.
The upper and lower Bollinger bands are separated by a price range of just 4.2%, making this the quietest Bitcoin market since early January. This sustained period of low volatility increases the probability of a volatile move in either direction. Traders are anticipating the next move on the market as hopes of a possible Bitcoin spot ETF revive.
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