This is becoming increasingly frustrating for investors as the Bitcoin price continues to consolidate in a narrow range.
At this point, a new Bitcoin report came from Glassnode, which evaluates the price movements of BTC.
Pointing out that Bitcoin has historically reached the lowest volatility levels, Glassnode stated that this has happened twice before.
Accordingly, low volatility was previously seen in September 2016, when BTC was trading around $604, and in January 2023, when it was found at $16,800.
Glassnode added that he believes Bitcoin's low volatility is a bull market signal among investors.
“The volatility in the cryptocurrency market has reached historical lows.
Measurements reveal that BTC is stuck between $29,000 and $30,000, showing extreme apathy and fatigue in this range.
In addition, while the money coming to Bitcoin has reached the lowest levels in history, the Realized Cap in BTC has made very modest movements since the beginning of the year and continues to circulate at the same levels.”
Stating that short-term investors are concentrated between $25,000 and $31,000, Glassnode pointed out that this also happened during the past bear market recovery.
At the same time, Glassnode stated that there was a decrease in the number of short-term investors because these investors did not sell their BTC and became long-term investors. said.
Finally, Glassnode stated that the number of Bitcoins in the hands of long-term investors continues to increase, saying that this shows that the belief of most of their investors in crypto and BTC still remains strong.
*Not investment advice.
