Bitcoin long-term investors are accumulating despite low volatility, creating a complex market environment. The two-month realized volatility is still low compared to the 2021 bull market and COVID-19 pandemic crash. Implied volatility has also remained low. However, BlackRock’s positive ETF news and the impending halving event have caused a slight increase in implied volatility. Thin trading books and low liquidity also contribute to potential volatility. The current price change has generated optimism among bitcoin investors, but if there is price rejection, a drop to $28,000 or below may be possible. Clearing the $30,000 region and advancing higher could trigger a stronger bullish momentum.

AI Sentiment: Positive