Volatility In Bitcoin Drops To 18-month Lows As The Price Rises Above $39,000

Bitcoin (BTC), the most popular cryptocurrency, is currently stuck in a bearish channel that began in November 2021. At the same time, its volatility plummets to new local lows.

The volatility of Bitcoin is aiming for new lows: Examine the information

According to data shared by the Buy BTC Worldwide portal, BTC’s historical volatility is at 18-month lows. Its 60-day estimated average value dropped to 2.62%.

BTC volatility was last this low in November 2020, when the orange coin broke through $10,000 for the first time in this bullish cycle.

On April 27, 2022, thirty-day volatility reached a local low, but it is already showing signs of recovery.

The BTC Volatility Index (BVOL), similar to the stock market’s VIX, shows how much Bitcoin’s price changes on a given day in relation to its previous price.

The most recent spike in BTC volatility occurred in July 2021, when the flagship cryptocurrency was twice as volatile over a 30-day period as it is now.

As BTC rises beyond $39,000, “extreme fear” continues to dominate the market

Meanwhile, BTC has begun to rebound after hitting a local low of $37,400. The flagship cryptocurrency returned to $39,100 after the most gloomy April in history.

Traders, on the other hand, are not overjoyed by this sluggish recovery. The Crypto Fear and Greed Index at Alternative is 21/100, indicating “Extreme Fear.”

This is a very low level: in negative 2022, Bitcoin mood barely reached the “10-20” zone twice in January.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Annie

CoinCu News