Bitcoin‘s volatility over the 15 days leading up to June 7 was within the “bottom 6% of occurrences” historically, indicating very low price movements during that time.
Bitcoin’s price in the market traded within a narrow 7% range between $66,936 and $71,656 during this low-volatility period.
However, on June 7, Bitcoin’s price saw a sharp 3.33% decline to $69,264, following stronger-than-expected U.S. jobs data that raised concerns the Federal Reserve may not cut interest rates as expected.
While low volatility is not necessarily predictive of future price movements, in previous similar periods of low Bitcoin volatility, the average 30-day return was over 20%, and the average 1-year return was over 800%.
The author acknowledges these past trends don’t guarantee future performance, but believes there is value in learning from Bitcoin’s historical price behavior during low-volatility periods.
Source: Cointelegraph
