Bitcoins 7-day price action is one of the lowest in a whole three years. Each time a big market move followed afterwards.

I don‘t think it is really a secret for how boring the markets have been during the last months even, we barely made any moves and the only somewhat decent moves were just a slow bleeding downwards. Which makes sense as basically nothing bullish has happened in Crypto over the past weeks. Meanwhile stock markets have made new 2023 and Bitcoin seems to actually be decoupled from them right now.

Such crabby/sideways markets are actually very usual for Crypto, especially during such transition periods between bear markets to bull markets, as there simply is no demand in the markets right now as consumers have other priorities in the current economic situation.

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7-day price change chart by Glassnode

Here we have a way of measuring that volatility, the 7-day price change. It is not a too small time-frame, but also not a too big one, just perfect. On that we have just seen the lowest 7-day price change, that has only been achieved for two more time in the last three years, from 2020 to 2023.

The last occasions have just been this year in January, on which our massive 40% rally in January alone followed and the other time has been in 2020 actually, just before the great 2021 bull market. Which could possibly mean that we are about have such an explosive move again, which after such a long consolidation would feel good.

Bitcoin is certainly entering a stage where a large move is imminent, whether to the upside or downside, remans to be seen.