Bitcoin Traders Brace For Volatility Ahead Of Record Monthly, Quarterly Closes
Bitcoin (BTC) approaches a significant double candle close, with price volatility increasing as it nears record highs. On June 30, BTC/USD closed around $108,400, influenced by algorithmic trading that liquidated a $12 million short position. Despite failing to achieve a record weekly close, BTC is positioned for a potential highest monthly close if it maintains above $104,630. Market liquidity is concentrated between $108,000 and $110,000, with potential volatility expected. Long-term holders are reactivating dormant coins, leading to a "critical demand deficit," which may exert downward pressure on prices. Analysts suggest that Bitcoin could be months away from its next bull market peak, with historical cycles indicating significant gains may be imminent.
