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28 September 2020

Max boredom: potential Bitcoin scenario with low volatility until 2021

Max boredom: potential Bitcoin scenario with low volatility until 2021


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The declining open interest of the futures market and the stagnant spot market volume raise the probability of low volatility.

Technically, Bitcoin is in a position where it has risen above a crucial level at $10,570, which has previously acted as a resistance area.

The confluence of the lackluster open interest and volume, combined with the major $11,000 resistance level, could cause BTC’s volatility to remain low for an extended period.

The aggregated open interest of the Bitcoin futures market declined from $5.7 billion to $3.8 billion in the past month.

The trader outlined Bitcoin’s resilience above $10,000 and the $11,000 resistance in the near term.

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cointelegraph.com
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