Bitcoin bounced back from the high area of around $30,000, and trends to the upside of its current range. The first crypto by market cap managed to trace back its weekend losses and returned to the $40,000 area. Related Reading | TA: Bitcoin Recovers Losses But Here’s Why $41.5K Could Prevent Gains At the time of writing, Bitcoin trades at $41,600 with a 6% and 5% profit in the last 24-hours and 7-day, respectively. The general sentiment in the market seems optimistic as BTC’s price was able to push back the bears’ fresh assault and prevent further losses. The $38,000 to $39,000 area was full of bid orders, as NewsBTC reported yesterday, which proved a critical zone for the rebound. The current price action seems to be trending upwards in volatility after a long period of stagnation for BTC’s price. As seen below, data from Arcane Research indicates that low volatility levels could be brewing Bitcoin for a fresh rally or a reclaim of its previous highs. The research firm noted that Bitcoin’s 30-day volatility reached a multi-year low. The last time this metric stood at its current levels was in November 2020. At that time, Bitcoin broke out of its bear market price action from the $3,000 to $16,000 range and into uncharted territory. The decrease in volatility seems to have hinted at this price movement and could potentially be indicative of BTC’s future performance as it rebounds back to $40,000. Arcane Research noted th...
