Bitcoin’s volatility is now higher than it was on the day of its all-time high in March, with traders suggesting this could signal the end of the “massive consolidation.”
Bitcoin’s volatility has passed the levels it reached during its all-time high in March and continues to rise, and traders think this could be the catalyst needed for BTC to finally break out of its consolidation phase.
But to trigger the rally, Bitcoin (BTC) must first hold above $61,000 and successfully retest the $62,000 level, which it hasn’t hit since Aug. 9.
“Bitcoin after a big slump in volatility levels, it’s now ramping back up and getting close to levels we saw earlier this year at the all-time highs,” pseudonymous crypto trader Daan Crypto Trades wrote in an Aug. 21 X post.
