​​The price of bitcoin forms a bullish signal preceding the ri | Global CRYPTO News

​​The price of bitcoin forms a bullish signal preceding the rise by 46%

Analyst firm IntoTheBlock noted that Bitcoin’s volatility drops to an extremely low level just before BTC’s price surge.

According to their observations, when trading volume remains at the current level for about five weeks, the price of a key cryptocurrency skyrockets by about 46%. If Bitcoin follows previous patterns, BTC price will skyrocket above $39,600.

At the same time, it was noticed that the same signal preceded the 50% collapse three times.

BTC volatility reaches historically significant lows. 60-day annualized volatility has fallen below 40% for the eighth time in the past five years.

On average, BTC volume is below this level for five weeks, resulting in a 46% price increase. However, three collapses with a probability of 50% occurred in similar conditions.

According to IntoTheBlock, 64% of bitcoin holders are above the breakeven price, while approximately 33% are in “loss” status. Of the total number of bitcoin holders, 69% hold their BTC for more than one year.