The volatility of Bitcoin exceeds the level of March's new high, which may be a catalyst for breaking through the consolidation phase
The volatility of Bitcoin has surpassed the level in March (when Bitcoin hit a historical high) and continues to rise. Traders believe this could be the catalyst needed for Bitcoin to finally break through its consolidation phase.
However, to trigger a rebound, Bitcoin must first maintain above $61,000 and successfully retest the $62,000 level, which is a level that Bitcoin has not touched since August 9th.
According to data from CoinGlass, on August 21st, the historical volatility index of Bitcoin reached 3.42%, surpassing the 3.00% on March 13th when Bitcoin reached a historic high of $73,679.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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