Bitcoin (BTC) is experiencing a significant pullback following the new ATH seen in July, over $123,000.
Bitcoin, which has been in a cooling-off period after the last ATH, continues trading in a narrow range, but Bitcoin’s implicit volatility index (BVIV) is said to have fallen to its lowest level since September 2023.
Experts said the situation cites previous data and shows the bullish potential of Bitcoin.
At this point, experts noted that the BVIV index last reached its lowest level in September 2023, reporting that BTC started on this day at around $26,000, doubled the price and increased almost 50%.
According to the data, BTC’s 30-day implicit volatility index (BVIV) fell to 40.84, below the 45 threshold. Historically, this zone indicated a period of accumulation or local bottom, followed by a strong upward movement.
Furthermore, since late 2022, when BVIV has been below 45 levels at the end of each week, BTC prices have generally shown an upward trend.
According to the BVIV indicator, as history repeats, Bitcoin can once again prepare the ground for another upward breakout.
Finally, GlassNode reported that even short-term investors (STH) in the market are not selling Bitcoin.
The market value/realized value (MVRV) ratio for short-term investors is currently 1.19, below the cycle peak of 1.33 recorded in November 2024.
*This is not investment advice.
