Data shows Bitcoin has been stuck in a historically tight 14-day range recently, something that has decompressed into big moves in the past.
Bitcoin 14-Day Range Has Been Extremely Narrow Recently
According to data from the analytics firm Glassnode, the 14-day range has only been narrower than now during less than 2% of the cryptocurrency’s entire trading life. The “14-day range” here refers to the percentage difference between the top and bottom recorded in the Bitcoin price during the past two weeks.
This indicator can tell us about how volatile the asset’s price has been recently. When its value is high, it means that the coin has observed a large amount of fluctuation within the last fourteen days, and thus, the price has registered high volatility.
On the other hand, low values of the metric imply the cryptocurrency hasn’t been that volatile as its price has moved by only a low percentage during the past couple of weeks.
Now, here is a chart that shows the trend in the B
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