Bitcoin ‘extreme low volatility’ to end amid new $50K BTC price target
Bitcoin is poised for a major move as volatility hits extreme lows, with some analysts predicting a drop toward $50K.Summary
Bitcoin (BTC) has been trading in a tight range around $90,000, leading analysts to predict an imminent, major directional move as volatility reaches "extreme low" levels. Trader Aksel Kibar suggested two scenarios: a breakdown from a bear flag formation leading to a drop toward $73.7K-$76.5K for a medium-term bottom, or a breach of $94.6K leading to a test of $100K. Other traders emphasized waiting for a clear breakout from the $89,800 to $90,600 range. Concurrently, onchain analytics platform CryptoQuant warned that Bitcoin appears to be in a bear market reaction phase. Contributor Pelin Ay noted that upward moves lack conviction and suggested a deeper bear market phase, potentially targeting the $50,000 region, is likely before the next major upward trend.
(Source：Cointelegraph)