Stocks markets slide toward yearly lows, while Bitcoin price remains range-bound. Here’s why crypto analysts expect a sharp move from BTC soon.
If you were to hang around crypto traders this week, you would hear three phrases repeatedly muttered: “volatility,” “bond prices” and the potential of a “sharp move” in Bitcoin (BTC) price.
Multiple analysts have placed emphasis on Bitcoin’s range-bound price action, leading some to question whether this is a sign of a market bottom, or even a decoupling from equities markets.
In a recent “The Week On-chain” newsletter, Glassnode analysts said:
“Recent weeks have seen an uncharacteristically low degree of volatility in Bitcoin prices, in stark contrast to equity, credit, and forex markets, where central bank rate hikes, inflation, and a strong US dollar continue to wreak havoc.”
Research outlet, Delphi Digital also chimed in on the subject, pinpointing the Bollinger Band Width Percentile (BBWP) metric as proof that there could be “a big move brewing for BTC.” According to Delphi Digital, “historically, BBWP readings above 90 or below 5 have marked major swing points.”
The BBWP has yet to dip under 5, but the researchers noted that for Bitcoin:
“Since Q2 2017, BBWP readings above 90 or bel
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