Bitcoin’s one-month realized volatility has fallen to about 25%, a level comparable to summer 2023 and one recorded during only 5% of the time since 2015. According to Glassnode, previous volatility troughs preceded sharp declines in 2023 and gains this year, without making it possible to predict the next direction. The Federal Reserve’s decision expected on Wednesday could act as a catalyst, particularly if it raises interest rates again amid signs of weakness in US economic activity and consumer confidence. Bitcoin, which had fallen 3.33% over seven days to $80,569, faces resistance between $84,000 and $85,000, while US spot Bitcoin ETFs recorded $540 million in net outflows on October 22.
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