Bitcoin (BTC) has been experiencing steady accumulation by long-term investors, leading to strong demand and creating a complex market environment, according to a report by Bitfinex Alpha. The two-month realized volatility of BTC stands at around 2%, which is relatively low compared to the 2021 bull market and the volatility experienced during the COVID-19 pandemic crash. Implied volatility (IV) has also remained low, reflecting market expectations of continued low volatility. However, the recent jump in daily IV above 50% on June 21 signifies the market’s anticipation of increased price movement. BTC whales continue to “hodl” despite the low volatility. If BTC experiences price rejection, a drop to $28,000 or below could be possible, while clearing the $30,000 region and advancing higher could trigger stronger bullish momentum.

AI Sentiment: Positive