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Bitcoin trades in tight range as daily volatility hits six-month lows
Bitcoin has been largely stuck between $62,000 and $65,000, and transaction volume has slid toward the lowest level since November 2023.
Bitcoin is in a quiet trading stretch, with daily price volatility tightening to the lowest levels seen in roughly six months, CoinDesk reports. The article points to bitcoin largely trading in a narrow band between $62,000 and $65,000.
CoinDesk says Bollinger bandwidth on bitcoin’s daily chart has narrowed to the tightest level since the start of the year, a pattern that has historically preceded sharp moves even though the eventual direction is uncertain.
The outlet also notes that transaction volume has dropped materially, falling to about $2.2 billion this month and tracking toward the lowest since November 2023, according to research cited from K33. It contrasts this with earlier in the year, when volume fell as bitcoin stayed rangebound and later rose as volatility increased.
CoinDesk frames the current setup as a volatility cycle, where prolonged periods of tight price action can be followed by an abrupt expansion in movement, even as traders struggle to find a clean break to bet on.
Latest closeBitcoin $62,929.67 ▼2.8%