BTC Holds Steady Amidst Market Reset
Bitcoin hovered near $95,000 on February 23, maintaining a tight trading range despite recent volatility linked to the Bybit hack.
According to Cointelegraph Markets Pro and TradingView, BTC’s price compression has led to historically low implied volatility, signaling the potential for a major market move.
- Daan Crypto Trades noted that BTC’s open interest across exchanges has dropped to its lowest level since February 9, per CoinGlass data.
- The trader called this a “good reset”, suggesting that spot market action will determine the next big move.
Michael Saylor Teases Another Bitcoin Buy
Investor speculation grew after Strategy (formerly MicroStrategy) CEO Michael Saylor posted a chart of the firm’s BTC holdings—often a signal of an imminent Bitcoin purchase.
Saylor’s comment on the post:
“I don’t think this reflects what I got done last week.”
Strategy has been aggressively acquiring BTC as part of its $42 billion “21/21 Plan”, aiming to expand its position as the largest corporate Bitcoin holder.
Bitcoin’s Implied Volatility at Multi-Year Lows
On-chain analytics firm Glassnode reported that Bitcoin’s 1-week realized volatility has collapsed to 23.42%, approaching historical lows.
- The last time it dropped this low was in October 2024 (22.88%) and November 2023 (21.35%)—both instances led to major price moves.
- Bitcoin options implied volatility has also hit multi-year lows, historically preceding “major volatility spikes.”
What’s Next for Bitcoin?
With volatility compressed and institutional interest brewing, Bitcoin could be on the verge of a major breakout. Traders and analysts are closely watching whether Strategy’s next BTC purchase will act as a catalyst for Bitcoin’s next move.
