Bitcoin: Before you make your next trade in October, read this
ambcrypto.comThe last four months have been marked by a “boring” price action from the leading coin, Bitcoin [BTC], data from on-chain intelligence platform Santiment revealed. In the past few weeks, BTC’s price oscillated strangely between the $19,000 price region and the psychological $20,000 price region.
Noticeably, the king coin has been increasingly less volatile in the past few weeks. Glassnode, in a recently published report, compared BTC’s performance with that of the broader financial markets. It found that,
“Recent weeks have seen an uncharacteristically low degree of volatility in Bitcoin prices, in stark contrast to equity, credit, and forex markets, where central bank rate hikes, inflation, and a strong US dollar continue to wreak havoc.”
According to Santiment, this decline in volatility could be attributed to “the lack of whale presence” in the BTC market. The count of BTC whale transactions that exceed $100,000 and $1 million also declined nearly to a two-year low, data from Santiment revealed.
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