$BTC's narrowing price range results from competing market narratives and suggests a big move is ahead. reports godbole17.
The range, or the difference between the high and the low reached in the seven days to May 21, was 3.4%. That's one of the narrowest in the past three years and comparable to lackluster trading seen at the start of the year, for a brief moment last month and in July 2020, according to data tracked by analytics firm Glassnode.
"It is comparable to Jan. 2023, and July 2020, both of which preceded large market moves. This suggests high volatility is likely on the horizon," Glassnode tweeted early Monday.Narrow trading ranges indicate that neither bullish nor bearish perspectives dominate the price action. That typically happens when markets face competing influences and narratives. While lingering U.S.
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