Bitcoin's trading range narrows to tightest in months

05/22 08:03

According to CoinDesk, the crypto market has become boring, with bitcoin (BTC), the world's biggest digital asset by market value, settling into the tightest price range for months despite lingering concerns about the stability of U.S. regional banks and the country's debt ceiling. The range, or the difference between the high and the low reached in the seven days to May 21, was 3.4%. That's one of the narrowest in the past three years and comparable to lackluster trading seen at the start of the year, for a brief moment last month and in July 2020, according to data tracked by analytics firm Glassnode. "It is comparable to Jan. 2023, and July 2020, both of which preceded large market moves. This suggests high volatility is likely on the horizon," Glassnode tweeted early Monday.
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