Bitcoin maintains the most stable market fluctuations it has experienced in the last year because it dominates other digital coins. The latest stretch of quiet Bitcoin trading since November 2023 matches a period that led to a substantial 35% price increase in just one month.
Per Sigel’s chart Bitcoin volatility rates have reached their lowest levels in six days while prices stabilize. During the past week Bitcoin has stayed between $94,730 and $100,235 without breaking through the $98,749 daily 50-day SMA. Since February 5 BTC exhibits tight price action between $94,730 and $100,235 because bulls attempt to break through the 50-day simple moving average.
Quietist Six Days for Bitcoin Since the Brief November 2023 Trading Range After Which BTC Rallied 35% in One Month pic.twitter.com/amMsxIlpo3
— matthew sigel, recovering CFA (@matthew_sigel) February 11, 2025
Previous phases of minimal price swings tend to develop movements based on upward or downward trends. Investors and experts expect Bitcoin to experience a significant market boost because they monitor for events that may spark substantial buying.
Bitcoin Bulls Eye $100K Amid Market Transformation Signals
After dipping below the 50-day Simple Moving Average line on February 2 Bitcoin hovered close to $90,000 border in its price range between $109,588 and $90,000 by February 3. Bulls are trying to restore control by forcing BTC values to rise above its daily SMA 50. The market has a chance to push Bitcoin prices up toward its targeted price level of $100,000 when traders successfully break through the daily moving average 50.
Glassnode co-founders noted on X that Bitcoin appears to have established a base following its oscillations and is likely to recover positively. They identify the start of a market transformation with its early patterns. Changes in Bitcoin price levels between $95,000 levels are common during market transitions yet strengthen its path to bull run territory.
During writing time Bitcoin lost 1.43% of its value during the previous 24 hours because traders waited for Jerome Powell’s speech. The upcoming speech from Powell can show us more about America’s economic strategy which today affects Bitcoin’s current path.
Many market participants believe the next few days will establish a clear direction for Bitcoin’s price because volatility stays low and people wait for a decisive price shift. Market participants watch Bitcoin activity to discover its next significant shift regardless of what happens next with resistance levels or trading retracements.
This news is republished from another source. You can check the original article here
