Bitcoin's Volatility Surpasses All-Time High, Potential Breakout Looms

• Bitcoin's volatility has surpassed levels seen during its all-time high in March.
• Traders believe this increased volatility could be the catalyst for Bitcoin to break out of its consolidation phase.
• Bitcoin must hold above $61,000 and retest the $62,000 level to trigger a rally.
• Increased volatility can attract more trader interest and provide opportunities for profit.
• Demand for Bitcoin has been in a downtrend since April, negatively impacting its price.
• Despite lower demand from institutional investors, permanent holders are accumulating BTC at record rates.

Summary :
Bitcoin's volatility has surpassed the levels seen during its all-time high in March and continues to rise. Traders believe that this could be the catalyst needed for Bitcoin to break out of its consolidation phase. However, for a rally to occur, Bitcoin must hold above $61,000 and successfully retest the $62,000 level. Increased volatility can attract more trader interest and provide opportunities for profit, but it also carries the risk of price going the other way. Despite a recent decline in demand for Bitcoin, permanent holders are accumulating the cryptocurrency at record rates. On the institutional side, spot ETF purchases need to recover to drive overall Bitcoin demand upward and potentially trigger a price rally.

Sources :

- CoinTelegraph
- CoinTelegraph