Bitcoin Stays Within $101K – $111K Range for 40 Days
Bitcoin has been trading within a range of approximately $101K to $111K for 40 days, showing no breakout in either direction. Key points include:
- Current macro conditions support this range-trading with unclear inflation expectations and mixed signals regarding future interest rates.
- The stability of Bitcoin may reinforce its store-of-value narrative, indicating independence from other risk assets.
- Traders express restlessness as thirty-day realized volatility is below 30%, leading to decreased opportunities in trading.
- The stagnation has negatively impacted the broader crypto market, with the CoinDesk 20 Index trailing Bitcoin by about 5% over the past month.
- Historically, Bitcoin has experienced similar prolonged ranges, with the current streak nearing the longest recorded at 42 days.
