"Bitcoin (BTC), Volatility Declines for Two Consecutive Days... Signal of Short-term Overheating Relief"
Minseung Kang
Summary
- It was reported that Bitcoin's volatility has declined for two consecutive days, indicating that the market is entering a stable phase.
- Bitcoin's volatility index has fallen to 2.02%, similar to the level at the end of February this year.
- The decline in volatility suggests a decrease in short-term speculative demand and the possibility of sideways movement in prices.
Bitcoin (BTC)'s short-term volatility has declined for two consecutive days, indicating that the market is gradually entering a stable phase.
On the 10th, the cryptocurrency specialist media Blockbit cited data from blockchain data company Coinglass, stating, "Bitcoin's volatility index has fallen to the current level of 2.02%, similar to the end of February this year, suggesting that the overheating sentiment after the recent surge has somewhat subsided."
The media added, "The decline in Bitcoin's volatility suggests that short-term speculative demand within the market is decreasing and that prices may be entering a phase of sideways movement within a certain range."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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