Bitcoin is a representative virtual currency ($BTC), fell and fell to the $75,000 level, in contrast to the upward trend of the global stock market. Important altcoins such as XRP, Ethereum ($ETH), Solana (SOL) also fell during the same period.
As investors wonder which direction to go in $BTC One analyst said: $BTCImplied volatility is at its lowest level this year, suggesting a big move.
According to Glassnode analyst Chris Beamish, Bitcoin’s underlying volatility index DVOL has fallen to its lowest level in a year. This could significantly increase Bitcoin’s implied volatility.
The DVOL index reflects options investors’ expectations regarding the future price movements of options. $BTC and Ethereum ($ETH).
Analysts analyzing the DVOL index for Account
Historical data shows that these periods of low volatility are usually short-lived and are often followed by large market swings.
In addition to Glassnode analysts, FXPro analyst Alex Kuptsikevich also shared his Bitcoin predictions. In an interview with Coindesk, Alex Kuptsikevich said that he is closely watching the major moving averages on Bitcoin charts.
According to analyst data, Bitcoin currently has support at its 50-day moving average (around $76,000), while previously its 200-day moving average (around $82,500) served as resistance.
At this point, analysts specifically noted that a crossover of the two moving averages and a “golden cross” is expected in the coming weeks. Generally, the “Golden Cross” is interpreted as a medium- to long-term bullish signal for Bitcoin.
But analysts also warned investors. “Which moving average breaks first before the intersection could determine the direction of the crypto market in the coming weeks,” he said. In other words, whether the 50-day support line or the 200-day resistance line is broken first could mean the difference between entering a bull market or facing another correction.
*This is not investment advice.
