Top Firm Warns: Bitcoin Price Could Be Headed For A Surprise Move
Summary
The Bitcoin price and crypto market are experiencing low volatility, with Bitcoin trading around $105,000, showing a 2.3% decline over the past week. Analysts suggest Bitcoin is compressing within a range between $110,600 and $100,000, with key levels at $109,000 and $103,000. A breakout from this range could indicate increased volatility. QCP Capital predicts a decline in volatility due to 'summertime blues,' as traders exit the market in July and August. BTC's implied volatility is below 40%, and a hawkish Federal Reserve may contribute to continued subdued price action.
