Bitcoin\u2019s rangebound trading style is raising eyebrows among both traders and analysts despite the Bybit hack. <\/p>\n
<\/span> 9378 <\/span> Total views <\/span><\/p>\n 8 <\/span> Total shares <\/span><\/p>\n<\/div>\n Bitcoin (BTC<\/a>) eyed $95,000 into the Feb. 23 weekly close as signs pointed to a major BTC buy-in by business intelligence firm Strategy.<\/p>\n BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed a quiet weekend for BTC\/USD after snap volatility over the record hack<\/a> of crypto exchange Bybit.<\/p>\n Despite the dust still settling on the event, Bitcoin managed to pause erratic price movements as traders\u2019 attention focused elsewhere.<\/p>\n \u201cRange still ranging,\u201d popular trader Daan Crypto Trades summarized in one of his weekend posts<\/a> on X.\u00a0<\/p>\n \u201cMeanwhile, volatility is trending down as price is getting more and more compressed. Even during yesterday’s drama, price still closed at the same price region which it has done so for the past 2 weeks.\u201d<\/p><\/blockquote>\n BTC\/USDT perpetual swaps 1-day chart. Source: Daan Crypto Trades\/X<\/em><\/p>\n<\/figcaption><\/figure>\n Daan Crypto Trades and others noted<\/a> the decline in open interest across exchanges, dipping to its lowest levels since Feb. 9 per data from monitoring resource CoinGlass<\/a>.<\/p>\n \u201cGenerally a lower open interest with a higher price is something that makes for a good reset, even if it’s just on a lower timeframe. Still need spot to take it from here,\u201d he concluded.<\/p>\n Exchange BTC Futures Open Interest (screenshot). Source: CoinGlass<\/em><\/p>\n<\/figcaption><\/figure>\n Buzz around Strategy meanwhile came as a result of CEO Michael Saylor posting a chart<\/a> of the firm\u2019s existing BTC holdings \u2014 a move which has recently become a classic signal<\/a> that further buying has or will be taking place.<\/p>\n \u201cI don’t think this reflects what I got done last week,\u201d Saylor commented on the latest chart print.<\/p>\n Strategy BTC holdings. Source: Michael Saylor\/X<\/em><\/p>\n<\/figcaption><\/figure>\n On the topic of volatility, onchain analytics firm Glassnode revealed that Bitcoin\u2019s implied volatility has rarely been lower.<\/p>\n Related: <\/strong><\/em>Bitcoin comes back to life \u2014 Does data support a rally to $100K and higher?<\/strong><\/em><\/a><\/p>\n Implied volatility reflects the standard deviation of market returns from its mean.<\/p>\n \u201cBitcoin\u2019s 1-week realized volatility has collapsed to 23.42%, nearing historical lows,\u201d it reported<\/a> on Feb. 21.<\/p>\n \u201cIn the past four years, it has dipped lower only a few times – e.g., Oct 2024 (22.88%) & Nov 2023 (21.35%). Similar compressions in the past led to major market moves.\u201d<\/p><\/blockquote>\n Bitcoin 1-week realized volatility. Source: Glassnode\/X<\/em><\/p>\n<\/figcaption><\/figure>\n Glassnode further noted multi-year lows in play for Bitcoin options implied volatility \u2014 an event that was previously followed by \u201cmajor volatility spikes.\u201d<\/p>\n \u201cMeanwhile, longer-term IV remains higher (3m: 53.1%, 6m: 56.25%),\u201d it acknowledged.<\/p>\n This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n<\/picture><\/div>\n
Bitcoins Strategy CEO Saylor hints at BTC exposure increase<\/h2>\n
Bitcoins Bitcoin research eyes \u201cmajor market moves\u201d<\/h2>\n