"Bitcoin enters phase of heightened volatility…choppy action with no clear direction"
Summary
- It assessed that the Bitcoin (BTC) market has entered a phase where only volatility is expanding without a clear trend.
- It said that in the short term, a directionless price-discovery range is continuing and that price action is choppy and unstable.
- It noted that Bitcoin is currently about 703 days after the halving, and that in past cycles bottom formation began around roughly 777 days.
Forecast Trend Report by Period
Bitcoin (BTC) is being seen as having entered a phase where volatility is widening without any clear trend. The market is also viewing the near term as a continuation of a directionless, price-discovery range.
On the 24th, crypto (virtual asset) market analyst Maartunn said on X (formerly Twitter) that "Tuesday’s market showed broader volatility picking up without a clear trend," adding that "price action is rough and unstable."
From a cycle perspective, an analysis of the current positioning was also presented. Maartunn said, "Bitcoin is currently about 703 days past the halving," and noted that "in past cycles, bottom formation began around roughly 777 days." He added, "That leaves roughly about two months from here."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
