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<p class="is-style-lead">Glassnode, a prominent analytics firm, has recently shared its insights on Twitter regarding the price dynamics of bitcoin, the leading cryptocurrency by market cap. </p>



<p class="is-style-default">According to Glassnode analysis, <a href="https://crypto.news/price/bitcoin/">bitcoin</a> has displayed exceptional stability over the past week, with a narrow trading range of 3.4%. </p>



<p class="is-style-default">This noteworthy consolidation phase represents the tightest range observed in the past three years. Drawing parallels to similar market consolidations in July 2020 and January 2023, Glassnode&#8217;s experts believe that significant market movements often follow such periods of price stability. </p>



<p class="is-style-default">Consequently, the current state of bitcoin&#8217;s stability may serve as a potential indicator of future extreme volatility in the near future.</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">The 7-day price range (3.4%) <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> has consolidated within is one of the tightest over the last 3yrs.<br><br>It is comparable to Jan 2023, and July 2020, both of which preceded large market moves.<br><br>This suggests high volatility is likely on the horizon.<br><br>📊 <a href="https://t.co/VHIhAlOSWL" target="_blank">https://t.co/VHIhAlOSWL</a> <a href="https://t.co/JZjvZe3yJa" target="_blank">pic.twitter.com/JZjvZe3yJa</a></p>&mdash; glassnode (@glassnode) <a href="https://twitter.com/glassnode/status/1660513624593674240?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 22, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<p>Adding to the conversation, seasoned commodities trader Peter Brandt took to Twitter to express his perspective on bitcoin&#8217;s price trajectory. </p>



<p>Brandt anticipates that bitcoin may experience another shakeout phase before embarking on a sustained upward trend. His insights provide additional context for market participants seeking to understand bitcoin&#8217;s potential short-term price movements.</p>



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<h2 class="wp-block-heading" id="bitcoin-analysis">Bitcoin analysis</h2>



<p>As of press time, bitcoin is trading at $26,876, displaying a slight 0.33% decrease in the past hour, according to <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noreferrer noopener">data from CoinMarketCap</a>. </p>



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<iframe title="⏫ TECHNICAL ANALYSIS OF BITCOIN FOR BEGINNERS | Bitcoin Today | Bitcoin Price" width="1020" height="574" src="https://www.youtube.com/embed/U6cZFVi4Waw?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
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<p><a href="https://crypto.news/free-bitcoins/">Bitcoin’s</a> volatility levels are relatively stable as the Bollinger bands, used in estimating volatility, now move at a relatively close distance from each other. Bitcoin’s relative strength indicator is also above its average line, indicating a bullish trend.</p>



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="826" height="499" src="https://crypto.news/app/uploads/2023/05/BTC-1.png" alt="Glassnode says big bitcoin price swings may be coming - 1" class="wp-image-14159374"></figure>



<p>Glassnode&#8217;s analysis of bitcoin&#8217;s recent stability, coupled with James Bullard&#8217;s predictions regarding interest rate hikes and Peter Brandt&#8217;s insights on price shakeouts, contribute to the ongoing discussions surrounding the future trajectory of bitcoin&#8217;s price in the cryptocurrency market.</p>



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Glassnode says big bitcoin price swings may be coming

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