Bitcoin's trading has become increasingly rangebound, raising concerns among traders despite recent volatility linked to the Bybit hack. As of February 23, Bitcoin was eyeing a price of $95,000, coinciding with indications of increased BTC buying by the intelligence firm, Strategy, led by CEO Michael Saylor. Market data reflected a weekend of low activity, maintaining prices steady despite external factors. Reports suggested a decline in open interest across exchanges, signaling a potential market reset. Additionally, on-chain analytics firm Glassnode noted that Bitcoin's implied volatility has reached near-historical lows, which historically precedes significant market movements. The 1-week realized volatility dropped to 23.42%, echoing previous low periods that triggered notable price changes. With extended volatility measurements still elevated, the crypto community watches closely for forthcoming market shifts, suggesting that the current environment could pave the way for major movements.

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