Bitcoin is showing signs of strength heading into July, with low volatility, steady demand, and historical trends suggesting the price could soon make a sharp move higher.
A July 4 report from Matrixport suggests that if seasonal trends continue and capital flows stay consistent, Bitcoin Bitcoin
Bitcoin could reach $120,000 this month. According to the report, realized price swings have now reached multi-year lows, indicating a significant decline in volatility. The market may be maturing as the one-week implied volatility is in the 30s, which is calm by Bitcoin’s standards.
Institutions are taking notice of this decreased volatility. When price movements are predictable, many large investors who were previously cautious due to risk controls are more likely to participate.
Since April, almost $14 billion has poured into Bitcoin exchange-traded funds, which is about $4 billion more than the price action alone would imply. Matrixport analysts say this suggests strong long-term demand rather than short-term trading.