Bitcoin was trading around $66,100, with its 30-day realized volatility dropping to 28.3 from 41.6 on June 25, placing BTC in the bottom 8% of its volatility range since 2016. Open interest has not expanded alongside recent gains, lowering the immediate risk of large liquidation cascades. The 200-day moving average near $72,700 remains the key resistance level to watch. If volatility rises above 35 without Bitcoin reclaiming that moving average, selling pressure could return, with a potential bearish target toward $61,800.
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