Bitcoin Market Update: Calm Before the Storm đȘïž?
Bitcoinâs market over the past week has been characterized by low volatilityđ», with prices fluctuating narrowly between $58,500 and $60,000 đ. This calm period has tightened key volatility indicators like the Bollinger Bands to levels not seen since early 2023, signaling a potential breakout in the coming weeksâ.đŹïž
Adding intrigue, Bitcoin whales đł have increased their holdings, suggesting that major investors are preparing for a significant price movement. However, the market remains at a crossroads: if Bitcoin can break above $69,000 and hold, it could signal a strong bullish trend đ.
On the downside, failing to maintain current support levels might lead to a retest of lower price points around $52,000 đâ.
âŒïž Traders should stay alert, as this period of consolidation likely precedes a decisive shift in the market.
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