Bitcoin's least volatile month ever? BTC price ends February up 0.03%

2 years ago

In dollar terms, BTC terms enactment astatine the extremity of February versus the commencement was dissimilar immoderate different month.

Bitcoin's slightest volatile period ever? BTC terms ends February up 0.03%

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Bitcoin (BTC) moved conscionable 0.03% past period successful U.S. dollar terms, making February 2023 apt its slightest volatile successful history.

Data from Coinglass from aft the monthly adjacent confirms that BTC/USD went practically obscurity for 4 weeks straight.

Bitcoin monthly candle hardly leaves a trace

To accidental that Bitcoin is little volatile than it was is thing of an understatement erstwhile it comes to February.

Despite its ups and downs, mostly owed to macroeconomic data, BTC terms enactment finished the period astir precisely wherever it began astatine astir $23,500.

That means that Bitcoin was more stable than a raft of mainstream assets, including stocks, commodities and, of course, large satellite currencies.

This is nary mean feat for cryptocurrency, with Bitcoin often criticized arsenic a mediocre store of worth owing to its sometimes aggravated volatility.

Nonetheless, pursuing January’s 40% gains, bulls held down the fort to sphere each past satoshi versus the commencement of the month.

More than that, according to the Coinglass figures, nary period has travel adjacent to February 2023 successful presumption of stability, making it the slightest volatile period connected record.

For the record, March has already changed the trend, with BTC/USD up astir 2.9% astatine the clip of writing, arsenic per information from Cointelegraph Markets Pro and TradingView.

Bitcoin terms volatility: All is not what it seems

In presumption of intraday moves, meanwhile, the representation connected Bitcoin presently looks decidedly different.

As Cointelegraph continues to report, speech bid books uncover a concerted effort to spark volatility from immoderate of the largest BTC traders.

On Binance specifically, these "whales" person created a bid partition which has successfully guided spot terms enactment successful what monitoring assets Material Indicators calls "manipulated" markets.

"Bitcoin managed to adjacent February with a greenish Monthly candle, but IMO thing for bulls to celebrate," it wrote successful 1 of respective caller tweets connected the topic.

An accompanying chart sought to explicate however whales are attempting to power terms action.

The views, thoughts and opinions expressed present are the authors’ unsocial and bash not needfully bespeak oregon correspond the views and opinions of Cointelegraph.

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