Bitcoin Price Holds at $105K Amid Low Volatility and Market Caution
The Bitcoin price is currently under pressure amid low volatility in the cryptocurrency market. Following the US Federal Reserve's recent decision on interest rates, Bitcoin has remained stable around $105,000, reflecting a 2.3% decline over the past week.
Price Action and Volatility Expectations
Analyst Daan Crypto noted that Bitcoin has been trading within a tight range between $100,000 and $110,600. Key levels to monitor are:
- $109,000
- $103,000
A breakout or breakdown from this range could signal a return of volatility. The analyst highlighted:
BTC is compressing around $105K, indicating a potential big move soon. Keep an eye on these levels.
Market Outlook for Summer
QCP Capital forecasts a decline in volatility during July and August due to decreased market activity from institutions and traders. Current indicators show Bitcoin's implied volatility below 40%, and a hawkish Fed may contribute to muted price action. The firm stated:
The Fed's stance remains hawkish, with inflation risks noted. Caution is expected among market operators.