In hibernation, but likely not for long
BTC stays rangebound as spot and derivatives activity remain passive. Bitcoin has now spent 28 days trading within the range of its September 21 candle, pushing 28-day volatility toward its mid-August lows.
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Bitcoin spent another week in tight consolidation with shrinking volumes, soft derivatives activity and narrowing volatility. Price kept drifting lower and briefly dipped below $80k on Thursday as equities sold off on a hot CPI print and a steep semiconductor sell-off. Low participation remains the dominant theme, and we still view this regime as similar to the dormant 2023 recovery.IBIT took in 8,128 BTC
