CryptoQuant: bitcoin's 30-day compression indicator hits 93.9%
- —Bitcoin's compression indicator reached 93.9% — an extreme zone
- —This is the fourth such case since the bear cycle began
- —BTC has tested the yearly moving average for 20 days without holding above it
Why it matters: Volatility compression at resistance usually precedes a sharp move — the market is waiting for a direction to be chosen.
Source: PANews