Bitcoin volatility could surge as BTC trades within the $62,300โ$66,500 range
Key takeaways
- Bitcoin trades around $63,500 after recording a modest decline last week.
- US spot Bitcoin ETFs suffered $389.71 million in net outflows during the week.
- BTC has consolidated between $62,300 and $66,500 since mid-July as trading volume and implied volatility decline.
Bitcoin (BTC) trades slightly higher at around $63,500 on Monday after posting a modest correction during the previous week.
Improving risk sentiment is supporting the mild rebound, although institutional demand remains cautious following weekly outflows from US spot Bitcoin Exchange-Traded Funds (ETFs).
Bitcoin has traded broadly sideways since mid-July, with its price confined to a narrow range and volatility falling to unusually low levels.
Analysts warn that the period of calm may be approaching an end, with a sharp move potentially determining BTC's next short-term trend.
Spot Bitcoin ETFs record $389.71 million in weekly outflows
Institutional demand weakened last week as US spot Bitcoin ETFs registered combined net outflows of $389.71 million, according to SoSoValue.
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