Bitcoin's BollingerBands are tighter than ever, indicating unusual calmness and low volatility on the cryptocurrency market
When the bands are narrow, it signals that the market is less volatile, and vice versa. In Bitcoin's case, Olszewicz's observation suggests that the cryptocurrency's price is currently in a phase of limited volatility.. Olszewicz also mentioned that Ethereum , the second largest cryptocurrency by market cap, is experiencing the"tightest B-Bands on weekly timeframe ever."
This simultaneous constriction could indicate a broader market trend, making the crypto market more predictable, albeit less exciting for traders seeking larger swings.that Bitcoin exchange balances have dropped to levels last seen at the start of 2018. The analytics platform states that"11% of the circulating supply is currently on exchanges," down from 17% in March 2020. This trend could suggest an increasing preference for holding Bitcoin long term, rather than trading it, further contributing to the current low-volatility environment.
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